U.S. stocks edged higher following the Federal Reserve's decision to hold interest rates steady, with the S&P 500 and Nasdaq posting modest gains. The central bank kept the federal funds rate in the 5.25%-5.50% range for a second consecutive meeting.
Treasury yields were mixed: the 10-year yield dipped slightly while the 2-year yield held near multi-year highs, reflecting uncertainty over the rate path.
Fed Chair Jerome Powell emphasized data dependency and left the door open for a December rate hike if inflation fails to cool sufficiently. Markets now price in roughly a 40% chance of a quarter-point increase next month.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing