Wall Street holds gains after Fed statement

Wed Apr 25, 2012 12:53pm EDT
 
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NEW YORK (Reuters) - Stocks clung to strong gains on Wednesday after the Federal Reserve repeated its promise to leave interest rates on hold until at least late 2014 while giving few clues into whether it might supply additional stimulus later this year.

The Dow Jones industrial average .DJI rose 45.56 points, or 0.35 percent, to 13,047.12. The S&P 500 Index .SPX added 13.06 points, or 0.95 percent, to 1,385.03. The Nasdaq Composite .IXIC gained 55.85 points, or 1.89 percent, to 3,017.45.

The three major stock indexes were higher earlier in the session after Apple's blowout quarter further increased optimism in an earnings season that has far outstripped expectations.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

 
Traders work on the floor of the New York Stock Exchange, April 20, 2012. REUTERS/Brendan McDermid