Dow Adds 72, Nasdaq Jumps 30

The Dow gained 72.28 points to close at 11,613, the Nasdaq added 30.52 to close at 2,253 and the S&P 500 added 6.87 to close at 1,325. Stocks rose early into the FOMC decision on interest rates and maintained their gains after the Fed kept rates unchanged. The Fed said, "The moderation in economic growth appears to be continuing, partly reflecting a cooling of the housing market". But they also said, "Nonetheless, the Committee judges that some inflation risks remain."

Volume was active with 2.6 billion shares trading on the NYSE and 2.25 billion on the Nasdaq. Advanced outpaced decliners by a margin of 21:11 on the NYSE and 19:11 on the Nasdaq.

In individual stories, Park Electrochemical Corp. (NYSE: PKE) rose 23% today after reporting strong Q2 results. Genta Inc. (Nasdaq: GNTA) sunk nearly 32% after selling 20 million shares to institutional investors for gross proceeds of $16 milion.

Tomorrow traders will be looking for Initial Jobless Claims at 8:30AM ET, Leading Indicators at 10AM ET, Natural Gas Stockpiles at 10:30AM and the Philly Fed at 12PM. Also earnings from Carnival (NYSE: CCL), FedEx (NYSE: FDX), General Mills (NYSE: GIS), Nike (NYSE: NKE) and Palm (Nasdaq: PALM) will be of interest.

You May Also Be Interested In

• BofA truck shipper survey shows demand outlook rises modestly
• Jefferies sees metals breakout on currency concerns
• Is the global equity rally broadening? UBS weighs in