Fed’s low-rate stance sends stocks higher

NEW YORK (AP) — Stocks added to their gains on Wall Street after the Federal Reserve sent a strong signal that it was in no hurry to continue raising interest rates.

The gains Wednesday pushed the Dow Jones Industrial Average above 25,000 points for the first time since early December.

Boeing soared 6.3 percent after reporting a blowout quarter. Other companies including Anthem also rose after reporting strong results.

The dollar weakened against other currencies as traders anticipated that U.S. interest rates would remain low for longer than previously expected.

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The S&P 500 rose 41 points, or 1.6 percent, to 2,681.

The Dow rose 434 points, or 1.8 percent, to 25,017. The Nasdaq gained 154 points, or 2.2 percent, to 7,183.

Bond prices rose. The yield on the 10-year Treasury fell to 2.69 percent.