Stocks Steady As Fed Holds Rates, Investors Await Powell's Conference

Federal Reserve The Federal Reserve Building in Washington

Stocks remained stable on Wednesday afternoon following the Federal Reserve's decision to maintain interest rates at a 23-year high.

The Dow Jones Industrial Average saw an increase of 274 points, equivalent to a 0.7% rise. The S&P 500 also experienced gains, climbing by 1.6%, while the Nasdaq Composite surged by 2.4%.

Dow Jones up 274 points, S&P 500 gains 1.6%.

Stocks stable after Fed maintains high interest rates.

Nasdaq Composite surges by 2.4%.

Investors are eagerly awaiting insights from Fed Chair Jerome Powell's upcoming press conference scheduled for 2:30 pm ET. They are particularly interested in any indications regarding the possibility of a rate cut by the central bank in September.