Wall Street Gains Back Most of Early-Week Losses, Fed to Keep Interest Rates Low for Now
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iStock/Thinkstock(NEW YORK) — Wall Street posted gains on Wednesday, largely making up for early-week losses.
The Dow Jones Industrial Average climbed 288.00 to 17,356.87.
The Nasdaq jumped 96.48, closing at 4,644.31, while the S&P 500 rose 40.15, finishing the session at 2,012.89.
Both the Dow and the S&P closed Wednesday higher than they did last Friday, while the Nasdaq was down just slightly.
The Federal Reserve’s Federal Open Market Committee reaffirmed on Wednesday its decision to keep interest rates low for the near future. That echoes a decision made in October. In announcing the reaffirmation, the committee said that labor conditions continue to improve, citing “solid job gains and a lower unemployment rate.” Still, the Fed believes it can “be patient in beginning to normalize the stance of monetary policy.”
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