Stock Market Extends Gains After Fed Hikes Rates

U.S. stocks extended modest gains on Wednesday as the Federal Reserve delivered a widely anticipated quarter percentage rate hike. The so-called dot plot of where policy makers expect rates to be over the next three years indicated a two additional rate increases this year, in line with previous forecast. The S&P 500 was up 13 points, or 0.6%, at 2,378. The Nasdaq Composite advanced 25 points, or 0.4% at 5,881. The Dow Jones Industrial Average gained 51 points or 0.3%, to 20,903.