Global stocks extend gains after Fed holds rates

Global stocks extended gains Thursday, bolstered by rising commodity prices and confirmation that the Federal Reserve plans to raise interest rates only gradually. MSCI's all-country world stock index was up 1.1 percent, while Europe's STOXX 600 closed up 0.4 percent, helped by euro zone banking shares. "It's as expected. I think the (stock) market will view it as good news. The body language makes it sound like they're warming people up for December," said Stephen Massocca, chief investment officer, Wedbush Equity Management in San Francisco.