Markets Rise After Fed Raises Interest Rates As Expected

U.S. indices finished sharply higher Wednesday after the Federal Reserve announced a rate hike and provided US economic forecasts. The Fed raised its target fed funds rate by 0.25% on Wednesday to a new range of between 0.25% and 0.5%, its first interest rate hike since 2018.

• The Nasdaq composite finished higher by 3.77% to 13,436; The Invesco QQQ Trust Series 1 QQQ gained 3.71% to $340.32
• The S&P 500 traded higher by 2.24% to 4,358; The SPDR S&P 500 ETF Trust SPY gained 2.22% to $435.62
• The Dow Jones composite finished higher by 2.42% to 11,805; The SPDR Dow Jones Industrial Average ETF Trust DIA finished higher by 1.54% to $341.36

Here are the day's winners and losers from the Dow Jones, according to data from Benzinga Pro.

JPMorgan Chase & Co JPM, Boeing Co BA and Nike Inc NKE were among the top gainers for the DIA Wednesday.

Walgreens Boots Alliance Inc WBA, Johnson & Johnson JNJ and Coca-Cola Co KO were among the top losers for the Dow Jones.

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