Wall St. Ends Off Day’s Highs as Fed Sees Inflation Rising
The Dow Jones Industrial Average rose 73.74 points, or 0.28 percent, to 26,150.63, the S&P 500 gained 1.47 points, or 0.05 percent, to 2,823.9
and the Nasdaq Composite added 9.00 points, or 0.12 percent, to 7,411.48.
(Reuters) - U. S. stocks finished marginally higher on Wednesday as indexes gave up early gains after the Federal Reserve
said it sees inflation rising this year, signaling it remains on track to boost interest rates again in March.
Stocks were lifted earlier Wednesday by a surge in Boeing which forecast better-than-expected full-year profits
and said it expects to deliver a record number of commercial aircraft in 2018, sending its shares up 4.9 percent.
The central bank raised rates three times last year
and sees three additional hikes in 2018 even as it continues to trim its balance sheet on a largely pre-set schedule.
The Fed kept rates unchanged but, in a statement following its two-day policy meeting, it repeated
that it expected that "further gradual" rate hikes will be warranted.