NEW YORK, Oct 29 (Bernama-Xinhua) -- United States (US) stocks ended higher on Wednesday after the Federal Reserve opted to keep its benchmark interest rate unchanged, as investors weighed persistent inflation concerns and the prospect of further rate hikes, Xinhua reported.
US Stocks Close Higher As Fed Holds Rates Steady
us stocks, dow jones, s&p, nasdaq
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Key takeaways
US stocks closed higher on Wednesday after the Federal Reserve held interest rates steady at 3.75% to 4.00%. The decision was split, with two officials dissenting in favor of an immediate rate hike.
- The Dow Jones rose 0.19%, the S&P 500 gained 0.28%, and the Nasdaq increased 0.27% on Wednesday.
- The Federal Open Market Committee voted to keep the federal funds target range unchanged at 3.75% to 4.00%.
- Cleveland Fed President Beth Hammack and Governor Lisa Cook dissented, preferring an immediate 25-basis-point rate hike.
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- Free Malaysia Today US Fed holds interest rates steady despite ‘too high’ inflation
- Bernama US Stocks Close Higher As Fed Holds Rates Steady (this story)
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