Stocks end higher as Fed sees recession easing

April 29, 2009 1:10:27 PM PDT
The Fed is confirming what Wall Street has already concluded: The recession is starting to ease. Federal Reserve policymakers said at the end of a two-day meeting Wednesday that while the economy is still receding, the pace of decline "appears to be somewhat slower" than the last time they met in mid-March.

That was confirmation enough for the stock market, which is ending with gains of more than 2 percent.

The Dow is up 169 at 8,186. The Standard & Poor's 500 index is up 18 at 874 and the Nasdaq composite index is up 38 at 1,712.

About five stocks rose for every one that fell on New York Stock Exchange, where volume came to 1.46 billion shares.

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