REFILE-US STOCKS-Wall St climbs after Fed statement

(Refiles to update bullet point on Nasdaq's gain)

* Investors eye FOMC statement on rates and economy

* Dow up 1.4 pct, S&P up 1.3 pct, Nasdaq up almost 1 pct

* For up-to-the-minute market news, click [STXNEWS/US] (Updates with Fed announcement, changes byline)

By Chuck Mikolajczak

NEW YORK, Nov 4 (Reuters) - U.S. stocks resumed their climb back toward session highs on Wednesday after the Federal Reserve held its stance to keep borrowing costs near zero for "an extended period" even though it expressed confidence the U.S. economic recovery was gaining steam.

The Fed kept its benchmark federal funds rate unchanged in a range of zero to 0.25 percent, as expected, and said the economy has "continued to pick up" since its last policy meeting in September. For details, see [ID:nN04453484]

"It was expected, absolutely expected. Nobody thought the Fed was going to raise interest rates, the unemployment rate is too high, there is no sense of any inflation, anywhere now or in the future," said Keith Springer, president of Capital Financial Advisory Services in Sacramento, California.

"But it's a very positive statement," he added. "The longer the Fed can keep interest rates low, the better it is for the economy."