(CNBC) — U.S. equities closed mostly higher on Wednesday after the Federal Reserve kept interest rates unchanged, as was widely expected.
The Dow Jones industrial average gained about 25 points, having risen more than 100 points earlier in the session, with Apple contributing the most gains. The S&P 500 rose less than 0.1 percent, with utilities falling 1.7 percent to lead decliners and health care outperforming. The Nasdaq composite rose 0.5 percent as Apple spiked around 6 percent.
The Federal Open Market Committee — the central bank's policy-making arm — kept its benchmark overnight lending rate target at 0.5 percent to 0.75 percent. Ahead of the announcement, market expectations for a rate hike were just 4 percent, according to the CME Group's FedWatch tool.
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