US stocks buoyed after Fed continues low rates
NEW YORK (AP) — U.S. stocks are opening higher a day after the Federal Reserve made clear it would keep interest rates at record lows for a while.
The Dow Jones industrial average rose 29 points, or 0.2 percent, to 17,186 in early trading Thursday, building on an all-time closing high from the day before. The Standard & Poor's 500 index edged up four points, or 0.2 percent, to 2,006.
The U.S. the central bank on Wednesday maintained its stance of keeping short-term rates near zero for "a considerable time."
Low rates have boosted the market by helping revive the economy and making stocks more attractive compared with bonds.
The yield on the 10-year Treasury note rose to 2.63 percent, from 2.62 percent late Wednesday.