S&P500 closes in weekly highs above 2,160

US equities tracked by the S&P500 closed Wednesday’s session with strong gains, advancing more than 1% (the most on a Fed day) following the steady stance from the FOMC at today’s meeting.

US stock markets have benefited from another ‘on hold’ Fed, although the Committee sees one rate hike by year-end and two hikes during 2017. Yellen has also argued that the November meeting will be a ‘live’ one. 

The US benchmark closed just below daily highs near 2,165 pts, or multi-day tops, after the FOMC left the Fed Funds unchanged at 0.25%-0.50%, matching initial estimates.

The Committee voted 7-3 favouring the current monetary stance, while most members stressed that the case for higher rates has strengthened, although further evidence is needed before tightening further.

Amongst the best performers we find Adobe Systems Inc. (ADBE, +7.33%) and FedEx Corp. (FDX, +6.97%), while on the opposite side align Netflix Inc. (NFLX, -3.37%) and Wells Fargo & Co. (WFC, -1.74%).