Stocks Give Thumbs Up to Fed

Updated from 4:10 p.m. EDT

Stocks in the U.S. overcame the initial weakness that followed the Federal Reserve's rate cut and closed with substantial gains Wednesday.

The Dow Jones Industrial Average went from up 100 points before the Fed released its comments on rates and the economy all the way into negative territory, but then the rebound began. When the final bell rang, the Dow had a gain of 137.54 points, or 1%, at 13,930.01.

The S&P 500 jumped 18.36 points, or 1.2%, to 1549.38, and the Nasdaq Composite was better by 42.41 points, or 1.51%, at 2859.12. ...