US stocks rise after Fed says it will taper bond buying

US stocks rose on Wednesday after the Federal Reserve announced it would begin scaling back its stimulus by $10 billion a month to $75 billion in bond purchases.

New York: US stocks rose on Wednesday after the Federal Reserve announced it would begin scaling back its stimulus by $10 billion a month to $75 billion in bond purchases.

The Dow Jones industrial average rose 50.43 points or 0.32 percent, to 15,925.69, the S&P 500 gained 0.02 points to 1,781.02 and the Nasdaq Composite dropped 16.185 points or 0.4 percent, to 4,007.495.Reuters