How major US stock indexes fared Wednesday, 11/1/2023

U.S. stocks rallied after the Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.

The S&P 500 rose 1.1% Wednesday. The Dow gained 221 points, and the Nasdaq composite jumped 1.6%. Treasury yields also eased in the bond market after the Fed announced its decision to hold interest rates steady, as expected.

The Fed hinted that a swift rise since the summer in Treasury yields, and the resulting tumble in stock prices, may be slowing inflation on their own and acting like rate-hike substitutes.Stock market today: Asian shares track Wall Street gains ahead of Fed decision on interest ratesThe Nasdaq composite rose 210.23 points, or 1.6%, to 13,061.47.The Nasdaq is up 418.46 points, or 3.3%.The Nasdaq is up 2,594.99 points, or 24.

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