Stocks lifted by Fed

Stocks were rising sharply Thursday, one day after the Federal Reserve announced a US$600-billion plan to stimulate the economy.

Broad stock indexes were up more than 1.5 per cent at midday.

The Dow Jones industrial average is up 179, or 1.6 per cent, to 11,394. The S&P 500 is up 17, or 1.4 per cent, to 1,215, and the Nasdaq composite index is up 32, or 1.3 per cent, to 2,572.

Retailers also reported solid sales in October, sending shares of major retailing companies sharply higher. Gap Inc rose 3.9 per cent while Macy's Inc jumped 5 per cent.

Overseas shares are also rising. The Stoxx 50 index which tracks blue chip companies in Europe was up more than 1.8 per cent.