Major U.S. stock indices rose on Wednesday amid earnings reports and results of the FOMC meeting. Fed policymakers voted anonymously to keep the key rate near zero. On a meeting scheduled for September 16-17 they will have to make a hard decision. This time the Fed noted progress in the U.S. labor market. This indicates that the central bank prepares to raise rates in September or later this year. Nevertheless policymakers remained concerned about low inflation, which can persuade the committee to postpone a rate hike.
The Dow Jones Industrial Average rose 121.12 points, or 0.7%, to 17751.39. The S&P 500 climbed 15.32 points, or 0.7%, to 2108.57 (all sectors of the index advanced). The Nasdaq Composite gained 22.53 points, or 0.4%, to 5111.73.
Citrix Systems Inc. led the gains among S&P 500 stocks, soaring 8.1% after the software company's adjusted quarterly profit and revenue exceeded expectations.
In Asia this morning Hong Kong Hang Seng declined 0.02%, or 4.31 points, to 24,615.14. China Shanghai Composite Index slid 0.01%, or 0.41 points, to 3,788.76. The Nikkei gained 1.10%, or 222.55 points, to 20,525.46.
Asian stock indices are showing mixed results. Japanese stocks advanced following gains in U.S. equities.
Data on Japanese industrial production showed that the corresponding index rose by 0.8% m/m in June exceeding expectations for a 0.3% increase. On an annualized basis industrial production rose by 2.0% compared to a 3.9% drop reported previously.
The China Securities Regulatory Commission said late Tuesday it was investigating share dumping incidents that occurred on Monday.