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Dow gets 160 points after the Fed supports the economy

Shares ended sharply higher on Wednesday after the Federal Reserve left the reference rate unchanged at close to zero and Fed chairman Jerome Powell pledged to provide support for the economy until it recovered. The S&P 500 SPX,
+ 1.24%
rose 1.2% to finish near 3,258. The Dow Jones Industrial Average DJIA,
+ 0.60%
increased 161 points, or 0.6%, to 26,540, based on preliminary figures. The Nasdaq Composite COMP,
+ 1.35%
achieved 1.4% to 10,543. All three indexes were positive this week. Investors also looked at procedures in Congress when top executives from the world’s largest technology companies were grilled by lawmakers about their business practices. General Electric Co. GE,
-4.35%
shares fell 4.3% after the diversified industrial conglomerate reported a greater than expected loss in the second quarter.

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