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 percent, to 17,935.74.
The Standard & Poor's 500 index gained 4.15 points, or 0.2 percent, to 2,100.44.
The Nasdaq composite added 9.33 points, or 0.2 percent, to 5,064.88.
For the week:
The Dow is up 36.90 points, or 0.2 percent.
The S&P 500 index is up 6.33 points, or 0.3 percent.
The Nasdaq is up 13.78 points, or 0.3 percent.
For the year:
The Dow is up 112.67 points, or 0.6 percent.
The S&P 500 index is up 41.54 points, or 2.0 percent.
The Nasdaq is up 328.83 points, or 6.9 percent.