Dow Surges 168 on Fed Hopes

Stocks gained today but ended off session highs after good news from a key Federal Reserve body, the Wall Street Journal reports. The Open Market Committee said it saw evidence the economy is stabilizing, and the Fed said it may increase purchases of Treasury securities to lower borrowing costs. The Dow gained 168.46 to close at 8,185.73. The Nasdaq added 38.13, to 1,711.94, and the S&P 500 rose 18.48, closing at 873.64.

(More Dow Jones stories.)