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U.S. stocks rise after the Fed held rates steady; Treasury yields fall

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U.S. stocks rise after the Fed held rates steady; Treasury yields fall

Investing.com -- U.S. stocks were rising and Treasury yields were falling as investors bet that the Federal Reserve is done raising interest rates after holding the benchmark rate steady for the second meeting in a row.

The main indices on Wall Street closed substantially higher Wednesday, with the blue chip Dow gaining 220 points, or 0.7%, the broad-based S&P rose 1.1% and the tech-heavy Nasdaq climbed 1.6%.The main focus, however, was on Powell’s comments after the decision’s announcement.

He added that the Fed will only"proceed carefully," adding that monetary policy is currently at a"restrictive" level.With the Fed meeting now in the rear view mirror, investors will focus more squarely on the ongoing quarterly earnings season, with Apple stock rose 10% after the coffee chain said revenue rose 11% as strong demand in North America offset a feeble recovery in China.) stock fell 12% after the drugmaker posted a quarterly loss as it took a $1.

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