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US stocks open higher after hitting all-time high

September 19, 2013

NEW YORK (AP) — The U.S. stock market is opening higher Thursday after setting a record high the day before.

The Dow Jones industrial average rose 11 points to 15,688. The Standard & Poor’s 500 index gained four points to 1,729. The Nasdaq, which remains below its all-time set in 2000, climbed 14 points to 3,798.

The Federal Reserve on Wednesday surprised financial markets when it decided against scaling back its massive bond-buying program. That buying has kept interest rates low and helped drive a bull market over the last 4-1/2 years.

The price of gold surged $60, or 4.5 percent, to $1,367 an ounce in early trading, on pace for its biggest one-day move since the financial crisis.

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