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News Summary: Stocks surge following Fed decision

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The Associated Press | September 18, 2013 05:14 PM EST | AP


FED DAY SURPRISE: The Federal Reserve voted to keep its bond-buying program at the current level, despite earlier indications from Fed policymakers that the central bank might be ready to start pulling back as the economy improves.

STOCKS SOAR: Both the Dow Jones industrial average and the Standard & Poor's 500 index hit records after the Fed announced its decision.

ALL THAT GLITTERS: Gold jumped $54.70 or 4 percent, to $1,364.10 an ounce, the biggest gain since January 2009. Investors anticipated that the Fed's bond purchases might cause inflation and weaken the dollar, two factors that cause gold to appreciate.