Wall Street Cheers Fed's Decision and Extends Gains to a Four-Day Rally

The week's rally was extended on Friday from the Fed's announcements on Thursday for their new QE3 stimulus plan. Both Apple (AAPL) and Exxon Mobile (XOM) are close to multi-year highs as Apple reaches almost $700 per share. A report was released that US retail sales increased more than was expected for the month of August and consumer prices were up as well. The Dow Jones announced it will be switching out Kraft Foods (KFT) for UnitedHealth Group (UNH), sending shares of UnitedHealth up Friday afternoon.
Staples Inc. (SPLS) also saw its stock rise after talks that it may be considering a  buyout. The dollar was down even further due to Bernanke's statements yesterday and fell to its lowest against the euro in several months.

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Published on Sep 14, 2012
By InvestorGuide Staff

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