Indiana Grain Company, LLC

Posted: 09/09/09

By: tomgrisafi

Rallying industrial companies sent the stock market higher Wednesday as investors awaited the Federal Reserve's latest assessment of the economy.

Investors are increasingly optimistic about profits at big industrial companies, and stock like Boeing and General Electric are seeing some of the biggest gains. Investors kept an eye on the weak dollar, which is lifting prices for commodities and helping to boost the stocks of materials producers.

Later Wednesday, the Fed will release its beige book, a region-by-region look at the economy. The report is due at 2 p.m. EDT.

In midday trading, the Dow Jones industrial average rose 63.94, or 0.7 percent, to 9,561.28. The Standard & Poor's 500 index gained 8.73, or 0.9 percent, to 1,034.12, while the Nasdaq composite rose 24.19, or 1.2 percent, at 2,061.96.

Source: Associated Press

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