US stocks surge after FOMC statement

US stocks surged higher Wednesday after the Federal Reserve boosted its support of growth in the economy, a move widely expected on Wall Street.

The Federal Open Market Committee said it would "initially" buy $45 billion per month of longer-term Treasury securities, replacing its Operation Twist bond-swap program that expires at year-end.

The FOMC also said it would hold its current benchmark rate at the ultra-low 0-0.25 percent level as long as the jobless rate, now at 7.7 percent, stays above 6.5 percent, and the inflation outlook for the next one to two years is no more than 2.5 percent.

Wall Street stocks, which had sharply pared gains ahead of the FOMC statement released at 12:30 pm (1730 GMT), rose sharply.

At 1800 GMT, the Dow Jones Industrial Average was up 64.08 points (0.48 percent) at 13,312.52.

The S&P 500-stock index advanced 9.47 (0.66 percent) to 1,437.31, while the tech-rich Nasdaq Composite climbed 10.52 (0.35 percent) to 3,032.82.

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2520-0.0008-0.07%
    USDSGD=X
    1.7302-0.0004-0.03%
    EURSGD=X
    2.0997-0.0044-0.21%
    GBPSGD=X
    81.8369+0.1042+0.13%
    SGDJPY=X
    6.1933+0.0038+0.06%
    SGDHKD=X
    2.5871+0.0026+0.10%
    SGDMYR=X
    9,125.9229-25.2959-0.28%
    SGDIDR=X
    4.9715+0.0073+0.15%
    SGDCNY=X
    1.1679-0.0006-0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,294.60-8.90-0.68%
    GCM14.CMX
    19.67+0.01+0.05%
    SIN14.CMX
    90.18-0.65-0.72%
    ^XAU
    3.04+0.02+0.51%
    HGK14.CMX
    104.59+0.83+0.80%
    CLK14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.73+0.08
    ^FVX
    2.72+0.08
    ^TNX
    3.52+0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.115-0.002-1.71%
    B22.SI
    0.48+0.020+4.35%
    5GJ.SI
    2.27+0.090+4.13%
    5ME.SI
    2.190.0000.00%
    JS8.SI
    0.61+0.005+0.83%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.034+26.56%
    5GF.SI
    0.20+0.034+20.48%
    5WD.SI
    0.59+0.050+9.26%
    L5I.SI
    0.28+0.020+7.69%
    C33.SI
    0.215+0.015+7.50%
    5UE.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.103-0.010-8.85%
    5OS.SI
    0.112-0.008-6.67%
    5RC.SI
    0.355-0.025-6.58%
    KJ9.SI
    0.215-0.015-6.52%
    F9M.SI
    0.29-0.020-6.45%
    5PC.SI