Stocks Ended Mostly Higher as Fed Left Rates Unchanged

U.S. stocks ended mostly higher on Wednesday after the Federal Reserve left interest rates unchanged and provided little indication when it would deliver another rate rise. The Dow Jones Industrial Average advanced 51.23 points, or 0.28%, to 18,041.55. The S&P 500 rose 3.45 points, or 0.16%, to 2,095.15. But the Nasdaq Composite slid 25.14 points, or 0.51%, to 4,863.14.

The Federal Reserve held interest rates unchanged on Wednesday and while it left the door open to a hike in June, its statement implied that it was in no hurry to follow on from its December rate rise.

Facebook Inc (FB.O) reported a better-than-expected 51.9 percent rise in quarterly revenue. The company’s net income attributable to common shareholders rose to $1.51 billion, or 52 cents per share, in the first quarter from $509 million, or 18 cents per share, a year earlier. Total revenue rose to $5.38 billion from $3.54 billion, with ad revenue increasing 56.8 percent to $5.20 billion.

Crude oil prices hit 2016 highs on Tuesday on the back of a rally in the gasoline market and after an industry group reported a surprise draw in U.S. crude stockpiles. Brent crude futures finished up $1.26 at $45.74 a barrel. U.S. crude futures settled up $1.40 at $44.04.