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(AP) - Stocks surged Wednesday, pushing the Dow Jones industrial average up nearly 300 points, after the Federal Reserve decided the U.S. economy was strong enough to withstand a slight reduction in the central bank's extraordinary stimulus program. The Dow and Standard & Poor's 500 index were back at record highs.
The Dow Jones industrial average soared 292.71 points, or 1.8 percent, to 16,167.97.
The Standard & Poor's 500 index rose 29.65 points, or 1.7 percent, to 1,810.65.
The Nasdaq composite rose 46.38, or 1.2 percent, to 4,070.06.
For the week so far:
The Dow is up 412.61 points, or 2.6 percent.
The S&P 500 is up 35.33 points, or 2 percent.
The Nasdaq is up 69.09 points, or 1.7 percent.
For the year so far:
The Dow is up 3,063.83 points, or 23.4 percent.
The S&P 500 is up 384.46 points, or 27 percent.
The Nasdaq is up 1,050.55 points, or 34.8 percent.