U.S. Stocks Pare Gain as Investors Weigh Rate Prospects
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After all the attention paid to the Federal Reserve today, benchmark U.S. stocks indexes ended the session at almost the exact place they were before the central bank pledged to keep interest rates low for a “considerable time.”
Commodity, financial and telephone shares led gains in seven of the 10 main industry groups in the Standard & Poor’s 500 Index. FedEx Corp. and Lennar Corp. rallied more than 3 percent after posting earnings that topped analysts’ estimates. Auxilium Pharmaceuticals Inc. jumped 45 percent, the most ever, after getting a takeover bid.