Stock market today: Wall Street holds most of its gains after Federal Reserve keeps rates steady

NEW YORK (AP) — U.S. stocks are holding onto most of their gains for the day after the Federal Reserve held its main interest rate steady. The S&P 500 was 0.9% higher Wednesday afternoon after rising as much as 1.3% earlier following a surprisingly encouraging report on inflation. The Dow Jones Industrial Average was close to flat, while the Nasdaq composite was up 1.6%. Treasury yields remained lower after the Fed indicated most of its policymakers still expect to cut interest rates at some point this year.