Stocks rise after Federal Reserve signals rate hike ‘soon’
By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers
Stocks gained ground in afternoon trading on Wall Street Wednesday after the Federal Reserve left its key interest rate unchanged, but signaled that it plans to begin raising interest rates as soon as March as the central bank moves to fight inflation. The S&P 500 rose 1.1%, the Dow Jones Industrial Average rose 0.6% and the Nasdaq rose 2%. The gains pushed every major index into the green for the week. Bond yields rose. Â The yield on the 10-year Treasury rose to 1.80% from 1.78% from late Tuesday.
