Stocks Closed Mixed as Fed Left Rates Unchanged

U.S. stocks closed mixed on Thursday as investors digested the Federal Reserve’s rate hike decision and Fed Chair Janet Yellen’s press conference. The Dow Jones Industrial Average fell 65.21 points, or 0.39%, to 16,674.74. The S&P 500 was down 5.11 points, or 0.26%, to 1,990.20. The Nasdaq Composite was up 4.71 points, or 0.10%, to 4,893.95.

The Federal Reserve on Thursday lowered its interest-rate forecast for the longer run, a crucial statement that says the U.S. economy is getting less capable of withstanding monetary policy tightening.

The biggest American automaker, General Motors, admitted guilt Thursday in hiding information from both the government and motorists about a deadly defect in its vehicle ignition switches that has been linked to at least 124 deaths in crashes.

Fiat Chrysler Automobiles will shift production of compact cars to Mexico and move most full-size pickup truck production to Michigan, according to a source familiar with the company’s plans.

A unit of CCRC, China’s largest train maker, has signed a deal to help build a high-speed bullet train railway linking Las Vegas and Los Angeles.