Market Snapshot: Stocks advance after Fed decision; Apple results boost Dow, tech sector

U.S. stocks advanced modestly Wednesday afternoon as the Federal Reserve left benchmark interest rates unchanged, as expected, pointing to solid domestic expansion, but acknowledging weak inflation, and a slowdown in business and household spending.

Fed Chairman Jerome Powell was slated to hold a news conference at 2:30 p.m. Eastern to explain the central bank’s policy.

How are major indexes performing?

The Dow Jones Industrial Average DJIA, -0.04% rose 56 points, to 26,650, a gain of 0.2%, while the S&P 500 index SPX, -0.06% rose 6 points, or 0.2% to 2,952. Meanwhile, the Nasdaq Composite Index COMP, +0.24% rose 46 points, a gain of 0.6%, to 8,141.

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