Submitted by Fox First at Ten on September 13th
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.
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