Stocks held onto early gains yesterday after the Federal Reserve announced its sixth interest-rate increase since last June. Investors snapped up stocks on the hope that the Fed is succeeding in keeping inflation under control, although market analysts warned that rates will continue to rise.
The Dow Jones industrial average ended up 126.79 at 10,934.57. The Standard and Poor's 500 rose 13.68 to 1,466.04.
Advancing issues outnumbered decliners by a four-to-three margin on the New York Stock Exchange, with 1,655 up, 1,306 down and 475 unchanged.
NYSE volume totalled 945.94 million shares at the close compared to 845.81 million in the previous session.
The Russell 2000 index of smaller companies rose 7.62 to 505.43.
Broader stock indicators also closed higher. The Nasdaq composite index rose 109.88 to close at 3,717.53.
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