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September 22, 2016

Stocks jump as Fed holds rates steady

NEW YORK (AP) — U.S. stocks climbed Wednesday as investors were relieved that the Federal Reserve once again left interest rates unchanged. That sent dividend-paying stocks higher, while energy companies jumped with the price of oil.

Stocks made a big gain after the Fed's decision, which ended about weeks of confusion for investors. With the central bank confirming that it will raise interest rates slowly, bond yields dropped and utility and phone companies rose. The price of oil rose after the U.S. government said energy stockpiles shrank last week.


 
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