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Wall Street add gains after Fed remarks


    NEW YORK (Reuters) - Stocks added to gains on Wednesday, sending the Nasdaq up more than 4 percent, after the Federal Reserve said it is prepared to buy longer-term Treasuries if that would improve credit market conditions.

    * The Dow Jones industrial average rose 202.31 points, or 2.47 percent, to 8,377.04. The Standard & Poor's 500 Index climbed 29.94 points, or 3.54 percent, to 875.65. The Nasdaq Composite Index added 59.11 points, or 3.93 percent, to 1,564.01.

    (Reporting by Ellis Mnyandu; Editing by James Dalgleish)