NEW YORK (AP) - U.S. stocks rose on Wednesday after Federal Reserve policymakers voted to keep interest rates unchanged and gave no indication that a rate rise was imminent. A modest rebound in Chinese stocks also helped push the market higher.
The Dow Jones industrial average rose 121.12 points, or 0.7 percent, to 17,751.39. The Standard & Poor's 500 index rose 15.32 points, or 0.7 percent, to 2,108.57 and the Nasdaq composite rose 22.53 points, or 0.4 percent, to 5,111.73.
The Fed said the U.S. economy continues to improve in numerous aspects, but signaled that it wants to see further economic gains and higher inflation before raising rates. Many investors expect the Fed will still lift rates in September or December, but its statement gave no timing for the raise.
Low interest rates have been good for stock investors, helping fuel a bull market that has lasted more than six years.