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Wall Street adds to gains as Fed upbeat on economy
U.S. stocks extended gains on Wednesday after the Federal Reserve gave a strong signal that it was on track to raise interest rates sometime next year, suggesting confidence in the U.S. economy. Following a two-day meeting, the U.S. central bank said it would take a "patient" approach in deciding when to bump borrowing costs higher. The statement came against a backdrop of solid domestic economic growth but trouble overseas. "It's pretty upbeat on the economy, and that's what the stock market is reacting to," said John Canally, investment strategist and economist at LPL Financial in Boston. Earlier in the day, ... (full story)