U.S. stocks came off session lows to clinch modest gains on Wednesday after the Federal Reserve indicated it would keep interest rates at current levels through the whole of next year, concluding its two-day meeting.
The S&P 500 closed up 0.3% to end at around 3,141.63. The Dow Jones Industrial Average picked up 30 points, or 0.1%, to close near 27,911.30, based on preliminary numbers. The Nasdaq Composite finished 0.4% higher to end at 8,654.05.
The Fed held interest rates at a range between 1.50% to 1.75%, and suggested its benchmark lending rate would stay at those levels through all of next year in the so-called dot plot. The potential for financial conditions to stay accommodative helped bolster sentiment around risky assets like stocks.
Source : MarketWatch