US stocks rise as Fed keeps aggressive easing in place
US stocks recorded solid gains on Wednesday as the Federal Reserve held steady on its policy of economic stimulus, as the Dow Jones Industrial Average gained 55.91 points (0.39 per cent) at 14,511.73.
US stocks recorded solid gains on Wednesday as the Federal Reserve held steady on its policy of economic stimulus.
The Dow Jones Industrial Average gained 55.91 points (0.39 per cent) at 14,511.73.
The broad-based S&P 500 picked up 10.37 (0.67 per cent) at 1,558.71, while the tech-rich Nasdaq Composite Index increased 25.09 (0.78 per cent) to 3,254.19.
The Federal Reserve, as widely expected, kept its monetary easing policies in place as it trimmed its this year and next year growth forecasts for the US economy.
The policies have boosted shares and been seen as a major factor in the Dow’s recent record-setting performance.
Barclays predicted the Fed will continue its asset purchases at the current US$85 billion-a-month pace through the end of the year, “before beginning to slow purchases sometime in the first half of next year.”