Fed Holds Rates Steady — Stocks Surge, Post Weekly Gains

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U.S. equities spiked on Wednesday following the Federal Open Market Committee (FOMC) announcement that interest rates will remain on hold for the time being. All major U.S. equity indexes, including the S&P 500, Nasdaq and Dow, posted weekly gains. International markets were also up for the period with the U.K. FTSE 100, Stoxx Europe 600 and Global Dow all finishing higher. After five sessions of decline, the 10-year U.S. Treasury note closed at approximately 1.6%. Gold prices rose and oil was slightly up.

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