What Happened in the Stock Market Today

Major benchmarks climbed on Wednesday as investors digested the latest quarterly earnings news, as well as a statement from U.S. Federal Reserve Chairman Jerome Powell suggesting the central bank's approach to managing interest rates will likely remain unchanged in the near future.

"We see the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate economic growth, a strong labor market, and inflation near our symmetric 2 percent objective," Powell explained.

The Dow Jones Industrial Average (DJINDICES: ^DJI) ended the session at a record high after gaining roughly 0.3%, while the S&P 500 (SNPINDEX: ^GSPC) edged up more modestly.

Source Fool.com