US Stocks Rise Following Fed's Decision Not to Raise Interest Rates

Following the US Federal Reserve's (Fed) decision not to raise its benchmark interest rate, Wall Street's S&P 500, Dow Jones, and Nasdaq indexes rose while activity was observed in the bond market.

Following the US Federal Reserve's decision not to raise its benchmark interest rate as part of its fight against high inflation, the bond market followed a volatile course while US stocks recorded slight gains. Fluctuating between small gains and losses throughout the day on Wednesday, the S&P 500 index finished the day up 0.3%.

During the same period, the Dow Jones Industrial Average gained 97 points, or 0.2%, while the Nasdaq composite index also rose 0.3%. Movements in the bond market indicated that investors saw a lower probability of future interest rate hikes that could harm the economy.