NEW YORK, Jan. 30 (Xinhua) -- U.S. stocks closed higher on Wednesday after the Federal Reserve left interest rates unchanged.
The Dow Jones Industrial Average jumped 434.90 points, or 1.77 percent, to 25,014.86. The S&P 500 was up 41.05 points, or 1.55 percent, to 2,681.05. The Nasdaq Composite Index increased 154.79 points, or 2.20 percent, to 7,183.08.
The U.S. central bank on Wednesday said in a statement that the Federal Open Market Committee decided to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent in support of the goals to foster maximum employment and price stability.
Major indexes surged after Fed released its statement.
Meanwhile, investors digested upbeat quarterly earnings of some big companies as well as key economic data.
Boeing, a constituent of the Dow, reported fourth quarter adjusted earnings per share of 5.48 U.S. dollars and revenue of 28.3 billion dollars, far exceeding analysts' estimates. Its shares surged 6.25 percent to close at 387.72 dollars on Wednesday.
Shares of Apple rose 6.83 percent on Wednesday after its earnings report came out a little better than expected. The company registered earnings per share of 4.18 dollars and revenue of 84.3 billion dollars.
However, the company saw a sharp decline in its iPhone revenue, which raised investors' concerns.
On the economic front, private payrolls showed 213,000 jobs were added in January, a much faster pace than expected as the labor market weathered the impact of the longest government shutdown in U.S. history, according to data released Wednesday by human resources services provider ADP and Moody's Analytics.
