December 9, 2013
Wall Street ends at record, Fed maintains stimulus
US stocks rallied to record highs after the Federal Reserve surprised investors and decided against trimming its bond-buying stimulus program, which has fueled Wall Street's rally of more than 20 percent this year.
The Dow Jones industrial average .DJI was up 146.44 points, or 0.94 percent, at 15,676.17, according to the latest data. The Standard & Poor's 500 Index .SPX was up 20.67 points, or 1.21 percent, at 1,725.43. The Nasdaq Composite Index .IXIC was up 37.94 points, or 1.01 percent, at 3,783.64.
European shares hovered near five-year highs today staying within their weekly range.
The pan-European FTSEurofirst 300 closed up 0.5 percent at 1,258.43 points, led by tech stocks as traders speculated about a possible bid for chip maker ARM Holdings and handset firm Nokia was boosted by a broker upgrade.Meanwhile, Japan's Nikkei share average rose to an eight-week high spurred by expectations the US Federal Reserve will deliver only a modest cut to its massive stimulus program at the end of its two-day meeting.
The Nikkei ended up 1.4 percent at 14,505.36, its best close since July 25, and at one point hit 14,625.97. The index broke above its short-term resistance level of 13,606.66, a 68 percent retracement of its May high to its low in June. The Topix gained 1.0 percent to 1,193.07.