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Stocks gains on Fed’s view

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NEW YORK — U.S. stocks rose on Wednesday, with the S&P 500 ending at a record after the Federal Reserve hinted at a slightly faster pace of interest-rate increases starting next year but suggested rates in the long run would be lower than it had indicated previously.

The benchmark S&P 500 set intraday and closing record highs while the CBOE Volatility Index, or the VIX, Wall Street’s fear gauge, fell to its lowest since February 2007.

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