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Wall Street higher after Federal Reserve maintains rates

U.S. Stocks

Wall Street higher after Federal Reserve maintains rates

U.S. stocks ended higher Wednesday amid signs of no immediate tightening of monetary policy by the Federal Reserve, and ahead of President Barack Obama's State of the Union address.
The Dow Jones Industrial Average rebounded from early losses, rising 41.87 points (0.41 percent) to 10,236.16 as component companies of the blue-chip index posted mixed fourth-quarter earnings.
The Nasdaq composite rose 17.68 points (0.80 percent) to 2,221.41 while the Standard & Poor's 500 index climbed 5.33 points (0.49 percent) to 1,097.50.
Markets recouped losses after the Federal Reserve policy making body decided to keep its stimulative monetary policy unchanged Wednesday and said it expected to hold "exceptionally low" rates "for an extended period" to support the economic recovery. On the corporate front, the stock market reacted to better-than-expected.


Updated : 2021-04-23 01:24 GMT+08:00