Stocks Finish Higher

Major indexes held gains sparked by strong earnings reports and lower oil prices after the Fed delivered an as-expected rate hike

Stocks finished higher Wednesday, showing little reaction to the Federal Reserve's announcment that it had increased the Fed funds target rate by 25 basis points, as expected. Strong earnings reports from Internet search provider Google (GOOG ) and other big names resulted in modest gains earlier in the day. Oil prices moved higher. The Dow Jones industrial average gained 44.85 points, or 0.43%, to move to 10,596.79. The broader Standard & Poor's 500 index rose 3.78 points, or 0.32%, to 1,193.19. The Nasdaq composite index rose 6.36 points, or 0.31%, at 2,075.06.

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