Stocks Hit Multi-Year Highs on Thursday After the Fed Pledges Action

The Federal Reserve announced on Thursday that it will purchase $40 billion of mortgage debt per month in Q3 easing to extend its holdings of long-term securities. Bernanke finally stepped up to say that the Fed would act until they see economic improvement, sending stocks up and bringing indices to the highest levels since 2007. In other news, the past week's jobs report said claims were higher than expected. The Producer Price Index for August climbed more than was expected for the month as well. Also surging in today's markets were metals with gold jumping 2% and silver 4% higher. Apple (AAPL) stocks hit another record high on a continued rise from Wednesday.
After yesterday's talks of a deal between BAE Systems (BA) and European Aeronautic Defence (EAD), investors reacted negatively and shares dropped.

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Published on Sep 13, 2012
By InvestorGuide Staff

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