Stocks ended the day higher as Apple’s earnings helped propel the Nasdaq up more than 2%. The market also reacted positively to the Fed’s latest meetings as Bernanke reiterated that the central bank will take action to help the economy if needed. The Fed decided they will keep its key interest rate unchanged until late 2014 and they also increased their outlook for economic growth to 2.4-2.9%.
The Dow ended the day up 89 points, the Nasdaq closed at 68 points and the S&P 500 closed up 18 points. [Read more...]