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The Nasdaq composite index rose slightly, gaining 5.74 points, or 0.1%, to 3,789.38.

The price of gold futures for December trading on New York's Comex rose 4.6% to $1,367.70 on Thursday, the metal's biggest gain since 2009, says Bloomberg News.

´╗┐Stocks slip a day after setting records

MONETARY POLICY: Fed delays taper, surprising markets

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Existing home sales rose 1.7% in August as buyers may have rushed to close deals ahead of higher interest rates.

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Stocks fell Thursday a day after setting all time highs in a Fed fueled session when the central bank surprised investors and kept its stimulus program in place.

FIRST TAKE: Why Fed isn't tapering yet

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The Fed cut its economic growth forecasts for this year and 2014. Bernanke warned in his comments that the upcoming debt ceiling and budget battles between the Reebok Lifters Legacy

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On Wednesday, both the Dow and the S 500 surpassed their previous record highs set on Aug. 2. The Dow rose 1% to close at 15,676.94. The S 500 jumped 1.2% to 1,725.52. markets soar

Conference Board said Thursday that its index of leading indicators increased 0.7% in August, in a sign of stronger growth in coming months.

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Economic reports out Thursday were mostly positive.

A television monitor on the floor of the New York Stock Exchange shows the decision of the Federal Reserve on Sept. 18, 2013.(Photo: Richard Drew, AP)

The yield on the 10 year Treasury note rose Thursday to 2.75%. On Wednesday, the surprise decision by the Fed to delay tapering sent the yield down to 2.7% from 2.85% Tuesday.

The Standard Poor's 500 index fell 3.18 points, or 0.2%, to close at 1,722.34, after earlier rising to an intraday record of 1,729.86.

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CALLAWAY: Fed strikes back at Reebok Dark Stealth

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"He basically shelved tapering for the short and medium term," said Frank Davis, director of sales and trading at LEK Securities. Davis said the Fed would likely not vote to start pulling back Saucony Extra Butter Shadow 5000 until its mid December policy meeting.

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Investors are now trying to figure out if the Fed's decision to do nothing is a sign that the economy is in worse shape than previously thought.

The Dow Jones industrial average dropped 40.39 points, or 0.3%, to 15,636.55, after earlier climbing as high as 15,695.89, an intraday record.

White House and Congress "may involve additional risks to financial markets and to the broader economy."

The Fed voted Wednesday to continue its $85 billion a month bond buying program. The decision was a surprise because Fed Chairman Ben Bernanke and other voting members of the Fed had telegraphed over the summer than the bank was considering pulling back. The bond buying is designed to keep interest rates low with the goal of stimulating the economy by encouraging borrowing and lending.

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Saucony Extra Butter Shadow 5000

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