US Stock Market Responds Positively to Federal Reserve's Decision

In a significant upturn, the US stock market experienced a notable surge, with the Dow Jones climbing over 230 points. This movement followed the Federal Reserve's announcement to keep interest rates unchanged, a decision that has been met with optimism by investors.

At 1:32 pm ET, the Dow Jones was up by 0.51%, or 230 points, while the Nasdaq 100 and the S&P 500 also saw gains of 0.15% and 0.39% respectively. Additionally, the euro strengthened against the dollar, trading at 1.04236 at 1:33 pm ET, marking a 0.13% increase.

Fed Chair Jerome Powell's remarks about the Fed's cautious approach towards future policy decisions further fueled the market's positive reaction. Powell emphasized a wait-and-see stance, stating the Fed is "not in a hurry" to make any immediate changes to its policy, which seems to have reassured investors about the stability of the economic environment.