& #8226; National

Stock rose Wednesday as investors scared off by the Federal Reserve’s assessment of the economy in the previous session regained their confidence and bid stocks higher. The Nasdaq reached a five-year high as investors focused on technology and smaller company stocks.

The Dow Jones Industrial Average rose 61.16, or 0.6 percent, to 11,215.70. The Standard & Poor’s 500 Index gained 9.66, or 0.8 percent, to 1,302.89. The Nasdaq Composite Index climbed 33.32, or 1.5 percent, to 2,337.78, its best close since Feb. 16, 2001.

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& #8226; Local


Local movers were led by Reliance Steel & Aluminum Co., which gained 6 percent to $93.86, Digital Insight Corp., which rose 5.4 percent to $36.58, and Public Storage Inc., which climbed 2.3 percent to $82.29. On the down side, UTI Worldwide Inc. fell 4.5 percent to $32.39, SCPIE Holdings Inc. lost 2.5 percent to $24.10 and Amgen Inc. slipped 0.8 percent to $72.02.