U.S. stocks rallied
to record highs on Wednesday after the Federal Reserve, in a surprise to
markets, decided against scaling back a stimulus program that has helped fuel Wall
Street's rally of more than 20 percent this year.
Stocks were lower
before the announcement, but after the Fed announced it would continue buying
bonds at an $85 billion monthly pace for now, the Dow and S&P 500 indexes
quickly climbed to all-time highs. The Dow Jones industrial average rose 147.21
points or 0.95 percent, to 15,676.94, the S&P 500 gained 20.76 points or
1.22 percent, to 1,725.52 and the Nasdaq Composite added 37.942 points or 1.01
percent, to 3,783.641.
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