Markets Soar Ahead Of Fed Meeting

The markets closed sharply higher with the Dow soaring 109 points to 15,179 as investors awaited word from the Federal Reserve about possible changes to its bond buying program. Nasdaq climbed 28 points to 3452.

On the upside

Shares of Frontline (NYSE: FRO) surged for no apparent reason.

Genpact (NYSE: G) opened a new operating center in Poland.

Bargain hunters lifted shares of Qihoo 360 Technology (NYSE: QIHU).

On the downside

Investors locked in profits on SGOCO Group (Nasdaq: SGOC).

Profit taking weighed down shares of Thompson Creek Metals (NYSE: TC).

Gilead Sciences (Nasdaq: GILD) reported interim results from a Phase 2 study of idelalisib for the treatment of patients with indolent non-Hodgkin's lymphoma.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index gained 12 points to 1639.

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