Stocks Get Fed Boost, Offsets Early Weakness Tied to GDP


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The FOMC's positive assessment of the U.S. economy and decision to scale back asset purchases by another $10 billion breathed new life into the stock market Wednesday after the dismal Q1 GDP revision threatened to halt Wall Street's two-day winning streak.

All major indices close with constructive gains, with the S&P 500 outperforming due to strength in telecom and utility stocks. The Dow Industrials rebounded off key support at 16,500, while the Nasdaq Composite recovered choppy trade to end higher.

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This article appears in: Investing , Commodities

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