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Post by bot on Mar 16, 2016 15:08:09 GMT -5
S&P, Dow close at 2016 high after Fed stands pat on rates, signals gradual hikes
U.S. stocks ended higher Wednesday after the Federal Reserve kept its key interest rates unchanged and slashed its projections for rate increases in 2016. Strong gains in oil prices helped lift materials and energy stocks, buoying the main benchmarks. The S&P 500 closed 12 points, or 0.6%, higher at 2,027, its highest level this year. The Dow Jones Industrial Average gained 78 points, or 0.5%, to 17,328. Meanwhile, the Nasdaq Composite ended up 35 points, or 0.8% at 4,763.
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