Updated from 3:24 p.m. EDT

Thanks for the Assist

( At 5:30 p.m. EDT)

The Dow Jones Industrial Average got a late lift thanks to the Federal Reserve's latest commitment to put added funds to work in the economy, and the index closed ahead Wednesday for the sixth time in the past seven trading days.

At the end of the session, the industrials were up 90.88 points, or 1.2%, at 7486.58, the highest finish since Feb. 18. JPMorgan Chase ( JPM), up 7.8% at $27.11, was the biggest contributor to the increase, accounting for nearly 16 points of the overall advance.

However, the top percentage gains were recorded by Citigroup ( C) and Bank of America ( BAC), both of which rose more than 22%. BofA ended at $7.67, its first close above $7 since late January. Citi, the volume leader again with nearly 1.3 billion shares traded, went out at $3.08, its best showing in more than a month.

All told, seven of the Dow's 30 stocks fell and the other 23 rose. Kraft ( KFT) was the weakest name, losing 4.4% to $22.29. Hewlett-Packard ( HPQ) followed with a 2.6% decline to $28.99.

So we've gained more than 900 points in seven sessions. I think we can all agree that's an impressive move. The question continues to be whether you believe it. Probably fair to say plenty of you don't want to miss it, but when do you take a little off the table? Clearly that's up to each individual.

We're likely going to get a pullback at some point, and the bulls will be put to the test, but at least we seem to have improved from all bad to just lots of bad in the past week and a half.

Thus far in March, the Dow is now up 6%. Spring starts in a few days, and I know lots of folks in the Northeast are ready to see winter over and done with. Maybe stocks are following the same pattern.

Mighty Generous of You

( At 3:10 p.m. EDT)

If you like to see stocks go up, then give thanks to Ben Bernanke and the rest of the Federal Open Market Committee.

The Dow rallied sharply after the Federal Reserve said it's planning to inject potentially more than $1 trillion in new funds into the U.S. economy, sending the industrials up more than 100 points.

Recently, the index was advancing 129 points to 7525. That's a 300-point improvement from the session low.

Only four components were lower, while financials rose, led by Citigroup's ( C) 23% gain. Bank of America ( BAC) was up 16%, and JPMorgan Chase ( JPM) was higher by 7%.

With the latest move, the Dow has now soared nearly 1,000 points from its 12-year low at 6547.05 on March 9.

Giving Up Ground

( At 11:57 a.m. EDT)

Sellers were in control throughout the morning, and around midsession the Dow was lower by 103 points at 7292. The weakness was widespread among the 30 index components, and only five stocks were higher.

The best issues were Citigroup ( C), up 24% to $3.11, and Bank of America ( BAC), rising 9.3% to $6.85. The last time Citi was above $3 was Feb. 17, and since falling below $1 on March 5, the stock has tripled. BofA hasn't seen its current level in more than a month, either.

McDonald's ( MCD), Verizon ( VZ) and Wal-Mart ( WMT) were also positive, but otherwise it was red numbers.

Alcoa ( AA) continued dropping in the wake of its dividend cut, this time losing 6.3% to $5.24, and our friends at OptionMonster note that put trading in the aluminum producer has been heavy.

Boeing ( BA), whose delayed 787 was the subject of critical remarks from a customer, was another decliner, down 4.2% at $33.01.

Elsewhere in the news, IBM ( IBM) was trading lower by 2.4% to $90.72 following reports that it might be about to bid for Sun Microsystems ( JAVA), and Coca-Cola ( KO) was off 0.9% at $41.07 on word that China has rejected its offer for juice maker Huiyuan Juice Group.

Among analyst actions, United Technologies ( UTX) was decreasing 1.6% to $41.04 after Morgan Stanley cut its estimates on the company, while an upgrade to buy at Needham wasn't giving Intel ( INTC) much of a lift.