Wall Street closes with modest gains after Fed leaves rates untouched

NEW YORK, New York - U.S. stocks remained well bid on Wednesday after the Federal Reserve's FOMC decided to keep interest rates unchanged, as widely expected. "The Committee decided to maintain the target range for the federal funds rate at 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintaining ample reserves in the banking system," the FOMC said in astatementWednesday. "Economic activity is expanding at a strong pace. While uncertainty remains elevated owing, in part, to geopolitical developments, domestic spending has been resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has changed little." "Inflation remains elevated," the FOMC statement said. "The accumulation of more information will help the Committee determine the policy stance appropriate to ensure a timely return of inflation to the Committee's two percent goal." Lisa D. Cook and Beth M. Hammack voted against the monetary policy action, preferring to raise the federal funds rate target range by 1/4 percentage point. TheStandard and Poor's 500closed at7,744.34, up21.74points or0.28 percent, on volume of2.889B. The benchmark traded between7,718.37and7,758.43during the session, and has ranged from6,316.91to7,844.52over the past year. TheDow Jones Industrial Averageadded102.05points, or0.19 percent, to finish at52,479.62, within a session range of52,335.43to52,634.32. The blue-chip index's 52-week range stands at45,057.28to54,744.33. TheNASDAQ Compositegained72.04points, or0.27 percent, to close at26,549.85, after trading between26,414.92and26,587.34. Its yearly range is20,690.25to27,722.75. The gains were broad but measured, with all three indexes advancing by less than a third of a percentage point. The S&P 500's0.28 percentrise led the group, followed closely by the NASDAQ at0.27 percent,while the Dow brought up the rear at0.19 percent. U.S. Dollar Edges Lower Against Most Major Currencies Wednesday, Holds Firm Versus Yen The U.S. dollar slipped modestly against most major currencies Wednesday, with the Japanese yen the lone exception among the majors, as traders positioned ahead of key economic data. The euro strengthened against the greenback, withEUR-USDat1.1154, a gain of0.26 percentfor the single currency. Sterling also advanced, withGBP-USDat1.3323, up0.13 percenton the day. The Australian dollar posted the largest move among the majors, withAUD-USDat0.7054, a rise of0.41 percentfor the Aussie. The dollar firmed slightly against the yen, withUSD-JPYat157.99, up0.03 percent. Against the Canadian dollar, the greenback rose, withUSD-CADat1.3998, a gain of0.38 percentfor the U.S. currency. The dollar was nearly flat versus the Swiss franc, withUSD-CHFat0.8285, up0.07 percent. Wednesday's moves left the dollar lower against the euro, sterling and the Australian dollar, while holding a slight edge over the yen, Canadian dollar and Swiss franc — a pattern analysts described as a touch of broad softness in the greenback, with the yen bucking the trend. Divisions on Global Stock Markets Wednesday as Asian Tech Surges, European Benchmarks Inch Higher World stock markets closed mostly higher Wednesday, with a powerful rally in South Korean and Taiwanese technology shares offsetting losses in India and Israel, while European benchmarks posted modest gains. In Canada, theS&P/TSX Composite indexrose93.60points, or0.26 percent, to36,265.09on volume of244.857M. The index traded between36,097.97and36,324.99on the day, and has ranged from29,530.90to37,069.1over the past year. TheFTSE 100in London closed at10,694.50, up7.96points or0.07 percent, trading between a low of10,643.25and a high of10,722.77on the day. The index has ranged from9,423.90to10,989.50over the past year. Germany'sDAX Padded113.25points, or0.44 percent, to finish at25,704.02, within a session range of25,534.42to25,716.83. Its 52-week range stands at21,863.81to26,618.74. TheCAC 40in Paris was essentially flat, slipping0.18points, or0.00 percent, to7,886.96, after trading between7,870.75and7,918.74. The index's yearly range is7,505.27to8,755.03. TheEURO STOXX 50 Irose3.12points, or0.05 percent, to6,167.81, having moved between6,140.57and6,181.34. Its 52-week low and high stand at5,376.81and6,577.20. TheEuronext 100 Indexgained4.27points, or0.23 percent, to close at1,875.67, within a range of1,868.12to1,880.46. The index has traded between1,658.14and1,984.60over the year. Belgium'sBEL 20added13.68points, or0.24 percent, to end at5,815.63, after ranging from5,793.18to5,834.46. Its annual range is4,774.82to5,905.83. In Asia, the Hong KongHANG SENG INDEXrose53.51points, or0.23 percent, to23,094.83, trading between23,023.04and23,157.40. The index's 52-week range is22,518.00to28,056.10. On the Chinese mainland, theSSE Composite Indexgained33.17points, or0.91 percent, to3,681.47on volume of412.61M, after trading between3,652.37and3,684.49. The index has ranged from3,574.27to4,258.86over the past year. In Japan, theNikkei 225rose685.82points, or1.08 percent, to63,954.19, within a session range of63,660.30to64,308.71. Its 52-week range stands at48,235.30to72,831.73. Singapore'sSTI Indexedged up0.88points, or0.02 percent, to5,397.91, within a range of5,382.96to5,425.37. It has ranged from4,372.64to5,828.50over the past year. In Australia, theS&P/ASX 200slipped2.80points, or0.03 percent, to8,847.30, after trading between8,846.70and8,937.00. Its yearly range is8,262.40to9,296.70. The broaderALL ORDINARIESindex gained2.60points, or0.03 percent, to8,971.40, within a range of8,968.80to9,060.20. It has traded between8,454.90and9,474.80over the year. In New Zealand, theS&P/NZX 50 INDEX GROSSgained11.06points, or0.08 percent, to13,691.33, after trading between13,547.13and13,745.66. Its 52-week range is12,689.78to14,069.22. India'sS&P BSE SENSEXfell352.64points, or0.48 percent, to73,246.03, after ranging from72,603.57to73,525.44. The index's 52-week range is71,292.88to86,159.02. Indonesia'sIDX COMPOSITEadded16.18points, or0.31 percent, to5,282.31, trading between5,167.34and its closing level of5,282.31. Its yearly range is4,907.37to9,174.47. In Malaysia, theFTSE Bursa Malaysia KLCIrose2.02points, or0.13 percent, to1,613.87, within a range of1,609.44to1,615.87. The index has ranged from1,592.57to1,771.25over the year. South Korea'sKOSPI Composite Indexwas the standout performer, surging374.10points, or6.63 percent, to6,012.44on volume of237,337. The index traded between5,745.51and6,032.28, and has ranged from3,833.35to9,385.59over the past year. Taiwan'sTSEC CAPITALIZATION WEIGHTED STjumped939.35points, or2.04 percent, to47,035.58, within a range of46,402.79to47,060.46. Its yearly range is26,395.98to49,968.92. In the Middle East, Israel'sTA-125fell101.04points, or2.46 percent, to4,007.01, after trading between3,960.73and4,067.21. The index has ranged from3,292.29to4,588.51over the year. In Egypt, theEGX 30 Price Return Indexdropped823.60points, or1.64 percent, to49,281.20on volume of175.114M, with the session range reported as49,281.20to50,330.10. In South Africa, theTop 40 USD Net TRI Indexdeclined32.34points, or0.49 percent, to6,548.37, within a range of6,529.56to6,606.65. Its 52-week range is6,105.70to8,184.71. Analysts pointed to the outsized gains in Seoul and Taipei as the day's dominant theme, with the KOSPI's6.63 percentadvance far outpacing other major benchmarks. (This report incorporates quotes retrieved with the assistance of artificial intelligence). Related stories: Tuesday 27 October 2026 |Nasdaq jumps 308 points on heavy demand for AI stocks| Big News Network Monday 26 October 2026 |Wall Street jumps Monday as Anthropic files for IPO| Big News Network.com