How the major stock indexes fared Wednesday (AP)
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The Dow Jones industrial average reached its highest level in two years after the Federal Reserve announced plans to buy $600 billion in Treasurys to stimulate the economy. The aim is to drive interest rates lower in an effort to spark spending and lending. The Fed made firmer commitments under the new program than many investors had been expecting, which helped push stock indexes and most Treasury prices higher.
The Dow Jones industrial average rose 26.41, or 0.2 percent, to 11,215.13.
The Standard & Poor's 500 index rose 4.39, or 0.4 percent, to 1,197.96.
The Nasdaq composite index 6.75, or 0.3 percent, to 2,540.27.
For the week:
The Dow is up 96.64, or 0.9 percent.
The S&P is up 14.70, or 1.2 percent.
The Nasdaq is up 32.86, or 1.3 percent.
For the year:
The Dow is up 787.08, or 7.5 percent.
The S&P is up 82.86, or 7.4 percent.
The Nasdaq is up 271.12, or 11.9 percent.
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