Wall Street jumps after Fed acts to boost economy
NEW YORK (Reuters) – Stocks rallied more than 1 percent on Thursday after the Federal Reserve launched another aggressive stimulus program and pledged to maintain it until the ailing labor market improves substantially. The Dow and the S&P 500 both climbed to their highest intraday levels in nearly five years, while the Nasdaq advanced to a 12-year high, extending a recent rally on hopes for central bank action. In a significant shift in monetary policy, the Fed said it would buy $40 billion of agency mortgage debt per month and if necessary will add purchases other assets until the U. S. . . .
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