Stocks closed higher on Wednesday after the Federal Reserve kept its benchmark interest rate unchanged at historic lows.
The central bank said that it was seeing some improvement in the economy, but not enough to signal an imminent rate hike. The Fed has kept its benchmark rate near zero for more than six years in an effort to bolster the economy and encourage borrowing, lending and investment.
For the day:
The Dow Jones industrial average rose 31.26 points, or 0.2 per cent, to 17,935.74.
The Standard & Poor’s 500 index gained 4.15 points, or 0.2 per cent, to 2,100.44.
The Nasdaq composite added 9.33 points, or 0.2 per cent, to 5,064.88.
For the week:
The Dow is up 36.90 points, or 0.2 per cent.
The S&P 500 index is up 6.33 points, or 0.3 per cent.
The Nasdaq is up 13.78 points, or 0.3 per cent.
For the year:
The Dow is up 112.67 points, or 0.6 per cent.
The S&P 500 index is up 41.54 points, or 2.0 per cent.
The Nasdaq is up 328.83 points, or 6.9 per cent.