U.S. stocks rose Wednesday after the Federal Reserve vowed to keep its easy-money policies in place until the U.S. economy further recovers from the effects of the Covid-19 pandemic.

The S&P 500 added 0.3%, and the Dow Jones Industrial Average climbed 0.6%. The tech-heavy Nasdaq Composite advanced 0.4%, reversing losses earlier in the session.

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All three indexes turned higher at the release of the central bank’s 2 p.m. ET statement. Investors are focused on any sign the monetary stimulus that has supported markets during the pandemic could begin to subside.

With unemployment still elevated, Fed officials are taking a cautious approach that supports the economy, said George Catrambone, head of Americas trading at asset manager DWS Group, Read more at WSJ