The Dow Jones Industrial Average surged up 83.10 points to 12,758.85 Wednesday after the Federal Reserve announced it will not raise interest rates until at least late 2014 and added that it expects to maintain a “highly accommodative” stance to support the recovery.
Meanwhile, the Nasdaq – fueled by Apple’s strong earnings report – rallied up 31.67 points to close at 2,818.31. The S&P 500 added another 11.41 points to finish at 1,326.06.
However, the Fed revised its outlook for economic growth downward this year to between 2.2% to 2.7%. On the bright side, it lowered its unemployment forecast slightly to 8.2%.
The National Association of Realtors reported pending home sales fell 3.5% in December, the highest level in a year and a half. Economists were expecting a 1% decline.
Here are some more details from Wednesday’s trading session:
Dow Jones Industrial Average:
- First gain in three trading days.
- Highest close since May 10, 2011.
- An intraday high of 12778.26 today, up 102.51 points, or 0.81%.
- An intraday low of 12580.12 today, down 95.63 points, or 0.75%.
- Today’s session had a trading range of 198.14 points, its largest intraday swing January 3, 2012.
- Down 1405.68 points, or 9.92% from its record close high of 14164.53 hit on October 9, 2007.
- Up 6.45% from 52 weeks ago.
- Up 94.88% from its 12-year closing low of 6547.05 on March 9, 2009.
- Down 0.40% from its 52-week closing high of 12810.54 on April 29, 2011.
- Up 19.74% from its 52-week closing low of 10655.30 on October 3, 2011.
- Month-to-date: up 4.43%.
- Year-to-date: up 4.43%.
Dow Jones U.S. Total Stock Market Index:
- Dow Jones U.S. Total Stock Market Index, 13789.83 (prelim), up 127.80 points, or 0.94%.
- Up seven consecutive trading days and 11 of the last 12 sessions.
- The seven day win streak is its longest since the seven-day period ended November 5, 2010.
- Highest close since July 26, 2011.
- Down 1955.56 points, or 12.42% from its record close of 15745.39 on October 9, 2007.
- Up 102.79% from the 12-½ year closing low of 6800.08 on March 9, 2009.
- Up 1.98% over the past 52 weeks.
- Down 3.62% from its 52-week closing high of 14308.37 on April 29, 2011.
- Up 22.04% from its 52-week closing low of 11299.07 on October 3, 2011.
- Month-to-date: up 5.92%.
- Year-to-date: up 5.92%.
Data courtesy of Dow Jones Indexes.
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