Market Snapshot: Stock market closes higher as Fed signals faster path of rate hikes

U.S. stocks climbed Thursday, but were off their intraday highs as investors adjusted to the Federal Reserve’s plan for a faster path of interest-rate increases in 2017.

After a pullback following the Fed decision, stock-market indexes resumed their post-election march higher. The Dow Jones Industrial Average DJIA, +0.30% rose 64 points, or 0.3%, to 19.861, after being up by as many as 159 points earlier in the session and less than 50 points from the psychologically important 20,000 level. Shares of J.P. Morgan Chase & Co.JPM, +1.50% and Goldman Sachs Group Inc.GS, +1.28% led gainers.

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