The Dow took the Fed ball and ran with it, crossing the finish line with a gain of more than 330 points.
With minutes to go before the close, the Dow is up over 300 led by AIG, Boeing, and P&G.
The Dow got a pop of relief after the Fed announced plans to hold rates steady and said inflation should moderate.
Stocks rallied unusually sharply for a Fed-meeting day, buoyed by oil's drop below $120 a barrel and a better-than-expected report on the services sector.
Stocks jumped after a report showed a better-than-expected improvement in the service sector last month. The market had already been buoyed by falling oil prices and confidence that the Federal Reserve won't deliver any surprise surprise rate moves.
Procter & Gamble posted higher quarterly profit on Tuesday as price increases and cost controls offset soaring prices for oil and other commodities.
The commodity decline that began a month ago and accelerated yesterday is continuing this morning. Traders are worried about the muted reaction from the stock market and are hopeful we will get a better reaction today.
Stock index futures pointed to a solid rise at the start of trading Tuesday, with sentiment buoyed by falling oil prices and confidence the Federal Reserve won't surprise the Street with any rate moves at its afternoon meeting.
It's the Fed's turn to sway the markets Tuesday, but stock traders will keep their eyes on the volatile oil and commodities markets.
Jon Hilsenrath, money and investing editor at The Wall Street Journal, offered CNBC his weekly "Five for Five": the five stocks investors must watch this week.
The main event this week is the Fed meeting on Tuesday and investors will tune in to see if Bernanke & Co. offer any insight on inflation. Plus, more earnings, including Cisco, P&G and AIG.
Mat DiFilippo, senior portfolio manager at Stewart Capital and Randy Lert, chief portfolio strategist at Russell Investments offered advice on different sectors that could help benefit investors.
Warren Buffett is perhaps the biggest Wall Street whale of them all. But big bets on struggling financials have contributed to a nearly 25% decline in shares of Berkshire Hathaway. Has this whale been beached?
Bruce Levis, managing director at McQueen, Ball & Associates, says that the market has yet to hit bottom, but offered a few sector selections that could benefit investors.
A defensive stock for a tough market that also thrives as oil declines? Perfect.
"The whole world is negative, and scared to death," but Bill Spiropoulos sees opportunities all over the place -- from global infrastructure build-out to consumer stocks.
Four-star fund manager Robert Millen thinks it's a good time for investors to be looking at quality growth companies. He admits that there may be some more darkness before the dawn.
The Dow rallied on Wednesday after strong results from Wells Fargo lifted the entire banking sector to it’s biggest one day gain in almost two decades. What's the "Word on the Street?"
Stocks pushed higher as oil plunged for the second day in a row and financials staged an across-the-board rally that stemmed investor pessimism about the effects of inflation on the economy.
Procter & Gamble affirmed its earnings and sales outlook for its fiscal fourth quarter, after warnings from other consumer products companies.