By The Associated Press
The stock market soared Thursday after the Federal Reserve announced a package of policies to jolt the economy. The Fed said it will spend $40 billion a month to purchase mortgage securities to try to lower interest rates. It also extended its pledge of super-low interest rates into 2015.
The Dow Jones industrial average rose 206.51 points, or 1.6 percent, to close at 13,539.86.
The Standard & Poor's 500 index rose 23.43 points, or 1.6 percent, to 1,459.99.
The Nasdaq composite index increased 41.52 points, or 1.3 percent, to 3,155.83.
For the week:
The Dow is up 233.22 points, or 1.75 percent.
The S&P 500 is up 22.07 points, or 1.53 percent.
The Nasdaq is up 19.41 points, or 0.62 percent.
For the year:
The Dow is up 1,322.30 points, or 10.82 percent.
The S&P 500 is up 202.39 points, or 16.09 percent.
The Nasdaq is up 550.68 points, or 21.14 percent.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.