US equity markets react well to Federal Reserve's $600m stimulus

US equity markets gave their firm stamp of approval to Ben Bernanke's $600bn (£370bn) stimulus measures as stocks rose to their highest level since the collapse of Lehman Brothers in September 2008. The Dow closed up 219.7 points up, or 2%, to 11,434.84 as investors moved out of the dollar and into the markets. Oil rose 2% and gold 3%, hitting a new all-time high. Analysts say the price spikes represent a delayed reaction to the Federal Reserve's quantative easing package announced on Wednesday. "QE2 is hitting the market big time," Peter Tuz of Chase Investment Counsel told CNN. "The rally really took off overnight with global markets and commodities, then spread to the US, and now we're seeing it just take off."