Dow Jones Industrial Average Today Rallies After No Fed Rate Hike

The Dow Jones Industrial Average pushed higher after the U.S. Federal Reserve announced plans to keep interest rates unchanged in September. The news was hardly surprising, as the odds of a rate hike sat at just 15% before the announcement.

According to reports, it was a very divisive FOMC meeting over the last two days. Fed Chair Janet Yellen issued a statement, but three members of the Fed dissented on the central bank's decision. Kansas City Fed President Esther George, Cleveland Fed President Loretta Mester, and Boston Fed President Eric Rosengren all said they favored an interest rate hike.

Let's look at the final numbers on Wednesday for the DowS&P 500, andNasdaq:

Dow Jones: 18,293.50; 163.54; 0.90%                                

S&P 500: 2,163.10; 23.34; 1.09%   

Nasdaq: 5,295.18; 53.83; 1.03%

Here's a look at today's most important market events and stocks, plus a preview of Thursday's economic calendar.

DJIA Today: Fed Keeps Interest Rates Unchanged; Bank of Japan Won't Hike Rates

The Dow Jones gained 163 points after the Federal Reserve voted to keep interest rates unchanged this month, raising expectations that the Fed will increase rates in December. Fed Chair Janet Yellen said that the case for a rate hike has improved. Yellen said that economic growth has picked up and that the labor markets have improved. However, Yellen has raised some concerns about productivity in the economy.

This morning, the Bank of Japan adopted a "yield curve control," its latest experiment in monetary policy to bolster the nation's economy. The central bank will purchase long-term government bonds, a plan that will hold the 10-year bond yield near 0%. The central bank will also keep its deposit rate in negative territory and says it will not hesitate to boost easing efforts in order to spur the country's stagnant economy.

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