Dow rises nearly 100 points as Fed holds rates, investors eye December move

US stock markets closed higher on Wednesday after the Federal Reserve decided to keep its benchmark interest rates unchanged, while investors weighed the possibility of further monetary tightening and awaited quarterly results from leading technology companies. The Dow Jones Industrial Average closed up by 97 points at 52,475.10. The S&P 500 gained 0.28% to end at 7,743.98, and the Nasdaq Composite advanced 0.27% to 26,549.85. The Federal Open Market Committee, the policy-making group of the US central bank, held its key interest rate steady at the range of 3.75% to 4%.