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U.S. stocks rise after Fed decision

Credit: Reuters Studio
Published on December 11, 2019 - Duration: 01:15s

U.S. stocks rise after Fed decision

Wall Street's main stock indexes ended modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely.

Yahaira Jacquez reports.

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U.S. stocks rise after Fed decision

Stocks on Wall Street closed slightly higher on Wednesday, after the Federal Reserve held interest rates steady and signaled it was not likely to raise them anytime soon.

Fed Chairman Jerome Powell announced his decision in the afternoon - giving markets a small boost.

Ross Gerber of Kawasaki Wealth Management.

(SOUNDBITE)(English) GERBER KAWASAKI WEALTH MANAGEMENT, CEO, CO-FOUNDER, PRESIDENT, ROSS GERBER, SAYING: "Right now - we're seeing very low activity across the board so I think investors are digesting the gains.

Markets are not cheap anymore and looking for opportunities.

I think in general this year a lot of investors have made good money this year, they want to lock in their gains.

So we don't expect much over the next couple of weeks but I think a trade resolution or a delaying in the tariffs could continue the rally and it could be a very good month of December." Most sectors in the S&P finished positive, with materials and technology taking the lead.

Meanwhile, Home Depot shares fell nearly 2% after the home improvement chain forecast 2020 sales below Wall Street expectations.

Its shares were the biggest drag on the Dow, keeping the indexes' gains small.

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