Wall St up as Fed holds rates – New York Report
US STOCKS finished stronger yesterday after the US Federal Reserve said the economy and job market continued to strengthen and left its key interest rate unchanged.
The central bank’s comments on the economy and inflation after its two-day pow-wow appeared to do little to drastically change wide expectations that the first rate hike will come in September or possibly December.
The Dow Jones industrial average rose 0.69 per cent to end at 17,751.39. The S&P 500 gained 0.73 per cent to 2,108.57 and the Nasdaq Composite added 0.44 per cent to finish at 5,111.73.
After the bell, Facebook and Whole Foods Market dropped four per cent and eleven per cent, respectively, following quarterly reports that left investors wanting more.
General Dynamics rose 3.93 per cent after its earnings. It sparked a sector-wide rally across major aerospace stocks.