The Markets

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The Fed's cut in interest rates spurred stocks higher Wednesday. The Dow Jones industrial average continued its upward surge, gaining 14.09 points to close at 5,395.30. The New York Stock Exchange composite index rose 2.75 to end the day at 340.03. On the Big Board, advancers led decliners 1,578 to 824, with 712 unchanged. Volume was heavy, with 472.06 million shares traded. The technology-heavy Nasdaq composite index rose 6.51 points to end the day at 1,057.81. The Standard & Poor's 500 stocks gained 5.86 to close at 636.01. The American Stock Exchange market value index rose 3.14 to 554.10. In London, gold closed at $405.45, up $0.70.