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US stocks rise after Fed holds fire

FXStreet (Córdoba) - US stocks jumped to session highs after the Fed announced its decision to keep rates unchanged in light of heightened uncertainties abroad and softer path of inflation.

The Dow Jones Industrial Average was or 0.79%, higher to 16,908. The S&P 500 rose 0.89%, to 2,017, while the Nasdaq Composite climbed 30 points, or 1.19%, to 4,955.

At a press conference, Fed Chair Yellen said the timing of the lift-off remains data-dependent and they will like to see further improvement in employment and inflation. However, she noted that most participants continue to anticipate an increase in the Federal funds rate by the end of this year.

Gold gains 1% on dovish Fed

Gold prices advanced more than 1% as the treasury yields and the US dollar dropped after the FOMC statement was highly dovish and Yellen stayed non-committal on the timing of the liftoff.
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