Wednesday Stock Market Update
The Dow Jones Industrial Average, S&P 500, and the Nasdaq Composite all posted gains on Wednesday, according to CNBC.
- The Dow Jones Industrial Average gained 160.29 points, or 0.69 percent, to close at 26,539.57.
- The S&P 500 gained 1.24 percent to close at 3,285.44.
- The Nasdaq Composite surged 1.35 percent to close at 10,5542.94.
The Federal Reserve announced that it would keep the federal funds rate steady. Furthermore, the central bank's statement said that US economic activity and employment “have picked up somewhat in recent months but remain well below their levels at the beginning of the year.”
Major tech shares advanced during the session while the CEOs testified in Congress over antitrust concerns. Facebook closed 1.38 percent, Amazon gained 1.11 percent, Alphabet closed 1.32 percent, and Apple surged 1.92 percent.
Tomorrow, weekly jobless claims and quarterly gross domestic product data are set to be released.