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Wall Street edges higher after Fed holds rates steady
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US shares edged higher after the Federal Reserve held interest rates steady, with Oracle’s strategy update also lifting investor sentiment.
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Wall Street ended slightly higher on Wednesday after the Federal Reserve left interest rates unchanged, while investors weighed the central bank’s comments and a positive strategy update from Oracle.
The Dow Jones Industrial Average rose 0.2 per cent to 52,475. The S&P 500 and Nasdaq Composite each gained 0.3 per cent, to 7,743.98 and 26,549.85 respectively.
The Fed said it would keep working to bring inflation down and gather information to guide its next policy decisions. Markets showed no clear consensus on what the central bank will do at its December meeting.
The decision came ahead of the US midterm elections. At its previous meeting in September, the Fed raised interest rates for the first time in more than three years.
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