US stocks jump amid rising oil

New York, March 19 (IANS) US stocks extended a recent rally as the Federal Reserve decision and rising oil prices continued to drive the stock market.

The Dow Jones Industrial Average rose 103.09 points, or 0.59 percent, to 17,584.58 on Friday, Xinhua news agency reported.

The S&P 500 gained 9.11 points, or 0.45 percent, to 2,049.70. The Nasdaq Composite Index was up 21.96 points, or 0.46 percent, to 4,796.94.

Traders still assessed the US Federal Reserve’s policy announcement and oil recovery. Oil prices continued to rebound Friday, with US oil trading more than 1 percent higher.

The Fed kept its benchmark short-term interest rates unchanged earlier this week as widely expected, noting that “global economic and financial developments continue to pose risks” to the US economy.

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