U.S. Stocks Close Higher After Fed Rate Hike

By Wallace Witkowski Markets MarketWatch Pulse

U.S. stocks closed higher Wednesday, rallying after the Federal Reserve hiked interest rates and confirmed expectations of two more rate hikes this year. The Dow Jones Industrial Average finished up 112.73 points, or 0.5%, at 20,950.10, led higher by shares of Caterpillar Inc. and UnitedHealth Group Inc. . The S&P 500 index advanced 19.81 points, or 0.8%, to finish at 2,385.26, with the energy and real-estate sectors leading gainers and financial sector the only one to close lower. The Nasdaq Composite Index closed up 43.23 points, or 0.7%, at 5,900.05, just shy of its record close of 5,904.03 set on March 1.

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