NEW YORK (AP) - Wall Street is applauding an unusual move from the Federal Reserve to cut its target for a key interest rate to the lowest level on record.
Stocks are extending their gains Tuesday following the central bank's decision to lower its fed funds target rate to a range of zero to 0.25 percent to align with where rates have been in the eyes of the market.
The Dow Jones industrial average is up 150 at the 8,719 level after being up about 100 shortly before the announcement.
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