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Fed's 'Patience' Sends Stocks Higher

Dow ends day up 434
By Newser Editors and Wire Services
Posted Jan 30, 2019 3:18 PM CST
In this Dec. 27, 2018, file photo trader Jonathan Mueller, foreground, works in a booth on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks added to their gains on Wall Street after the Federal Reserve sent a strong signal that it was in no hurry to continue raising interest rates, the AP reports. The gains Wednesday pushed the Dow Jones Industrial Average above 25,000 points for the first time since early December. Boeing soared 6.3% after reporting a blowout quarter. Other companies including Anthem also rose after reporting strong results. The dollar weakened against other currencies as traders anticipated that US interest rates would remain low for longer than previously expected. The S&P 500 rose 41 points, or 1.6%, to 2,681. The Dow rose 434 points, or 1.8%, to 25,017. The Nasdaq gained 154 points, or 2.2%, to 7,183. (Read more stock market stories.)

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