The U.S. Stocks end higher on Wednesday as Fed meeting holds no surprises

Wall Street stocks finished higher on Wednesday following a choppy session as the Federal Reserve kept interest rates unchanged, while Google-parent Alphabet tumbled on worries about its namesake search engine.

The Fed, as expected, announced another pause in rate cuts amid uncertainty over the effects of President Donald Trump’s tariff plans.

Stocks meandered during a press conference with Fed Chair Jerome Powell in which the central bank chief reiterated his independence from the White House and pointed to a “great deal of uncertainty” about tariffs and the economy.

The Dow Jones Industrial Average finished up 0.7 per cent at 41,113.97.

The broad-based S&P 500 advanced 0.4 per cent to 5,631.28, while the tech-rich Nasdaq Composite Index added 0.3 per cent at 17,738.16.

Adam Sarhan of 50 Park Investments said markets were still looking for the next “bullish catalyst” after the Fed event as investors await trade deals involving the United States and major trading partners.