NEW YORK, Jan. 28 (Xinhua) -- U.S. stocks finished mixed on Wednesday following the Federal Reserve's widely anticipated decision to keep the target range for the federal funds rate unchanged at its first policy meeting of 2026.
The Dow Jones Industrial Average rose 12.19 points, or 0.02 percent, to 49,015.6. The S&P 500 sank 0.57 points, or 0.01 percent, to 6,978.03. The Nasdaq Composite Index increased by 40.35 points, or 0.17 percent, to 23,857.45.
Seven of the 11 primary S&P 500 sectors ended in red, with real estate and consumer staples leading the laggards by losing 0.92 percent and 0.78 percent, respectively. Meanwhile, energy and technology led the gainers by going up 0.74 percent and 0.62 percent, respectively.
The Federal Open Market Committee voted 10-2 to maintain the interest rate unchanged at 3.5 percent to 3.75 percent.
In a post-meeting press conference, Fed Chair Jerome Powell noted that while tensions between employment and inflation have eased, the committee remains data-dependent.
"I think, and many of my colleagues think, it's hard to look at the incoming data and say the policy is significantly restrictive at this time," said Powell.
Responding to a question about advice for his successor, Powell underscored the importance of institutional independence, saying that the role should "stay out of elected politics."
Analysts at ING Bank said the Fed's latest communication showed a "hawkish twist," citing the removal of language on "downside risks to employment" as a signal that policymakers see the labor market as stabilizing.
In corporate news, technology shares remained a focal point as investors awaited results from Meta, Microsoft and Tesla after the closing bell.
Nvidia shares advanced 1.59 percent, continuing its strong performance. Amazon shares slipped 0.68 percent following the company's announcement of an additional 16,000 job cuts.
Seagate Technology surged 19.14 percent after reporting robust quarterly results, while Texas Instruments and AT&T also saw notable gains of 9.94 percent and 4.65 percent, respectively. ■