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Wall Street adds to gains after Fed pledges more support to US economy

At the end of its two-day policy meeting the Fed said it maintained its interest rate target range until it is confident the economy has weathered the virus

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The Dow Jones Industrial Average rose 105.68 points, or 0.4 per cent

3 min read Last Updated : Jul 30 2020 | 12:52 AM IST

US stocks added to gains on Wednesday after the US Federal Reserve repeated a pledge to use its "full range of tools" to support the economy for as long as it takes to recover from fallout of the pandemic.

At the end of its two-day policy meeting the Fed said it maintained its interest rate target range until it is confident the economy has weathered the virus and is on track to achieve its maximum employment and price stability goals.

"This was pretty much as expected. The key statement will be in September when they give some forward guidance," said Stan Shipley,

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