Dow's nearly 500-point jump puts it on track for best day in 4 months as Fed fires up bond buying

U.S. stock indexes on Friday hit session highs amid a raft of upbeat news, with the latest fillip coming from a report that the Federal Reserve will buy Treasury bills, up $60 billion per month, to maintain ample reserves in the banking system. The Dow Jones Industrial Average DJIA, +1.21% gained 494 points, or 1.9%, at 26,989, which would put it on pace for its best daily gain since June 4, when it surged 512 points and 2.06%, while the S&P 500 index SPX, +1.09% climbed 1.85% for its best percentage gain since a 1.88% rise on Aug. 8, while the Nasdaq Composite Index COMP, +1.34% was up 2%, looking at its best one-day percentage gain since a 2.24% gain on Aug. 8, according to FactSet data. Markets had already been rallying on optimism surrounding Brexit discussions and China-U.S. trade.

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