Dow gains 160 points after Fed signals support to economy

FoxEpedia

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Stocks ended solidly higher Wednesday after the Federal Reserve left its benchmark interest rate unchanged near zero and Fed Chairman Jerome Powell pledged to provide support to the economy until it recovered. The S&P 500 SPX, +1.24% rose 1.2% to finish near 3,258. The Dow Jones Industrial Average DJIA, +0.60% advanced 161 points, or 0.6%, to 26,540, based on preliminary numbers. The Nasdaq Composite COMP, 1.35% gained 1.4% to 10,543. All three indexes flipped positive for the week. Investors also watched proceedings in Congress as top executives from the world's largest tech firms were grilled by lawmakers over their business practices. General Electric Co. GE, -4.35% shares were down 4.3% after the diversified industrial conglomerate reported a wider-than-expected second-quarter loss .

By FoxEpedia
 
 
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