Prices rally again as the private sector unexpectedly sheds 39,000 employees.
The central bank sees weakness for the foreseeable future and promises to act to jolt the ailing patient. Stocks give up afternoon gains. The dollar and oil drop. Housing starts rise.
Prices slipped as investors awaited news from the committee's meeting.
The metal flirts with $1,300 on hedge fund buying and hints of monetary easing by the Fed.
The Empire State Manufacturing index drops 3 points, coming up short of expectations.
The Dow closes up 46 after the Fed sees 'widespread' signs of slowing growth. European worries ease. JPMorgan and Alcoa lead the blue chips. Oil falls back from $75.
The big question: Will the rally continue? Watch for more deals. The Fed's Beige Book report will be closely studied. So will President Obama's stimulus proposals to boost the economy.
The indexes end down more than 4% in August. Traders continue to be skeptical about the economy. Home prices rose in July, and consumer confidence gains slightly. Gold jumps above $1,250.
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