Dow rallies after Fed statement, up 429 points

(AP) - U.S. stocks are rising at the closing of tradingafter the Federal Reserve said it has discussed policy moves it canmake to spur the

NEW YORK - (AP) - U.S. stocks are rising at the closing of tradingafter the Federal Reserve said it has discussed policy moves it canmake to spur the economy. The Fed also said growth has been slowerthan expected.

The Dow Jones industrial average is closing up 429 points, or 4percent, to 11,239.77.

Stocks rallied in the last hour of trading. Stocks initiallyfell after the Fed made its statement, which included a pledge tokeep interest rates at their record low until at least the middleof 2013.

The S&P 500 is up 53, or 4.7 percent , to 1,172.53. The Nasdaqis up 124, or 5.3 percent, to 2,482.52

The Dow had plunged 634 points Monday on the first day oftrading since Standard & Poor's cut the U.S. credit rating.

Wall Street takes a dive on first day after downgradeU.S. downgrade raises anxiety, if not interest rates

advertisement | advertise on News 12

Trending Video

News 12 took to the streets to find 1 Word on the Street: Time travel
VIDEO: March to help seniors apply to college 2 VIDEO: March to help seniors apply to college
NYCHA asked children to design their dream playgrounds. 3 NYCHA, nonprofit team up for new Red Hook playgrounds
Brooklyn Weekend Travel Advisory, Dec. 10-11 4 Brooklyn Weekend Travel Advisory, Dec. 10-11
5 Brooklyn Sportscast, Dec. 8

advertisement | advertise on News 12

Features

Furry Friends is a weekly segment on News Furry Friends

Furry Friends is a weekly segment on News 12 Brooklyn nightside.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE