Wall Street closes at 2016 high as Fed signals fewer rate hikes The S&P 500 closed at its highest level of the year on Wednesday after the US Federal Reserve left interest rates untouched and signalled fewer rate hikes in coming months. The Fed indicated moderate US economic growth and “strong job gains” would allow it to tighten policy this year with fresh projections showing policymakers expected two quarter-point hikes by the year’s end, half the number seen in December.
The Dow Jones industrial average closed up 74.23 points, or 0.43 percent, to 17,325.76, the S&P 500 had gained 11.29 points, or 0.56 percent, to 2,027.22 and the Nasdaq Composite had added 35.30 points, or 0.75 percent, to 4,763.97.
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