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The Canadian Press - ONLINE EDITION
Stocks rise as the Fed stands by its aggressive stimulus and says US economy is strengthening
A television screen on the floor of the New York Stock Exchange shows the news conference of Federal Reserve Chairman Ben Bernanke, Wednesday, March 20, 2013. In a statement after a two-day meeting, the Fed stood by its plan to keep short-term rates at record lows at least until unemployment falls to 6.5 percent, as long as the inflation outlook remains mild. (AP Photo/Richard Drew)
Stocks are closing higher on Wall Street after the Federal Reserve stood by its plan to continue with aggressive measures to boost the economy.
Concern eased about a possible financial crisis in Cyprus.
The Dow Jones industrial average rose 55 points, or 0.4 per cent, to close at 14,511. The Dow briefly traded at an all-time high Wednesday.
The Standard & Poor's 500 index rose 10 points, or 0.7 per cent, to 1,558. The S&P posted its first gain after three days of losses and is about six points away from its record closing high.
The Nasdaq composite index rose 25 points, or 0.8 per cent, to 3,254.
Three stocks rose for every one that fell on the New York Stock Exchange. Volume was 3.3 billion shares, slightly below the recent average.
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Bernanke says computer revolution likely to provide various future gains to economic growth
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