THE FED EFFECT: Stocks rose Friday, energized for a second day by the Federal Reserve's promise to take new steps to try to heal the economy.

TRUE BELIEVERS?: Some investors were skeptical that the Fed's moves will help the economy in the long term. But even they wanted to take advantage of the short-term stock market gains.

THE RUSSELL CROWS: The Russell 2000 index, which tracks smaller public companies, briefly traded above its highest close of all time.