Dow gains for third session as Fed keeps rates unchanged

US stocks stayed supported on Wednesday after the Federal Reserve held interest rates steady and the global risk appetite held up. The Dow Jones Industrial Average added 126.21 points, or 0.24%, to 52,503.78. The S&P 500 gained 0.33% to 7,748.03, while the Nasdaq Composite advanced 0.32% to 26,561.24. In a key update for markets, the US Fed left its key policy rate unchanged and upgraded its assessment of the economy. However, it noted that inflation remains elevated. At the post meeting press conference, Fed Chair Kevin Warsh said the central bank had made clear its willingness and readiness to act. This turned out to be a steady outcome for equities as the Dow Jones rose for a third session and consolidated just under seven week high.

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