US stocks extend gains after Fed statement

New York, March 18 (IANS) US stocks ticked up as investors assessed the US Federal Reserve’s policy announcement as well as oil recovery.

The Dow Jones Industrial Average added 155.73 points, or 0.90 percent, to 17,481.49 on Thursday, Xinhua news agency reported.

The S&P 500 gained 13.37 points, or 0.66 percent, to 2,040.59. The Nasdaq Composite Index rose 11.01 points, or 0.23 percent, to 4,774.98.

The Fed kept its benchmark short-term interest rates unchanged on Wednesday as expected, noting that “global economic and financial developments continue to pose risks” to the US economy.

“I am wary and have not yet concluded that we have seen a significant uptick that will be lasting,” said Fed chair Janet Yellen, at a press conference following the two-day policy meeting.

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