US STOCKS-Wall St rallies for third day as Fed concerns fade

Thu Jun 27, 2013 4:53pm EDT
 
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* Dow's 3rd day of triple-digit point gains - a first since early Oct 2011

* S&P 500 posts best three-day run since January

* Investors laud remarks by Fed's Dudley

* ConAgra surges after raising its outlook

* Dow up 0.8 pct, S&P 500 up 0.6 pct, Nasdaq up 0.8 pct

By Alison Griswold

NEW YORK, June 27 (Reuters) - U.S. stocks climbed for a third straight day on Thursday after comments from several Federal Reserve officials soothed concerns that the central bank would begin to reduce its stimulus efforts in the near future.

The Dow Jones industrial average closed back above 15,000 for the first time since June 19. The Dow scored its third consecutive day of triple-digit point gains for the first time since Oct. 4-6, 2011.

The rally helped the S&P 500 post its best three-day run since January after three Fed policymakers sought to downplay the notion that the central bank would bring an imminent end to its accomodative monetary policy, known as quantitative easing.   Continued...