Wall Street continues higher as Fed extends low rates

Chicago News.Net
Tuesday 16th March, 2010

U.S. stocks were higher Tuesday with the Dow Jones industrials gaining for their sixth consecutive day.

European bourses were also higher as Standard and Poor's confirmed Greece's sovereign debt rating, and took the country off negative watch.

The U.S. Federal Reserve at its monthly FOMC meeting elected to hold the Federal funds rate in a range of zero to 0.25%, unchanged from last month.

At the close of trading Tuesday the Dow Jones Industrials were up 43.83 points or 0.41% at 10,685.98.

The Nasdaq Composite was up 15.80 points or 0.67% at 2,378.01.

The Standard and Poor's 500 was up 8.95 points or 0.78% at 1,159.46.

The U.S. dollar was weaker, particularly after the Fed decision was announced as an accompanying statement said the Fed intended to keep rates low for an extended period. Around the New York close Tuesday the dollar had fallen to 1.3766. The British pound advanced to 1.5248, while the Swiss franc was stronger at 1.0546.

The Australian dollar climbed to .9182. The Canadian dollar appreciated to 1.0137.

The Japanese yen was only slightly firmer at 90.24.

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