Stocks climbed Wednesday after the Federal Reserve raised interest rates, a long-expected vote of confidence in the health of the U.S. economy. The Fed emphasized that further increases will be gradual.
The Dow Jones industrial average picked up 224.18 points, or 1.3 per cent, to 17,749.09.
The Standard & Poor’s 500 index jumped 29.66 points, or 1.5 per cent, to 2,073.07.
The Nasdaq composite rose 75.77 points, or 1.5 per cent, to 5,071.13.
For the week:
The Dow has advanced 483.88 points, or 2.8 per cent.
The S&P has gained 60.70 points, or 3 per cent.
The Nasdaq has added 137.67 points, or 2.8 per cent.
For the year:
The Dow is down 73.98 points, or 0.4 per cent.
The S&P is up 14.17 points, or 0.7 per cent.
The Nasdaq is up 335.08 points, or 7.1 per cent.