Wall Street rallies as pressure eases from the bond market after Fed decision

NEW YORK — U.S. stocks climbed after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are.

The S&P 500 jumped 1.1% Wednesday.

The Dow Jones Industrial Average added 383 points, and the Nasdaq composite rose 1.4%.

Wall Street also got a boost from easing yields in the bond market as expectations rose for the Fed to deliver as many as three cuts to its main interest rate by the end of the year. The yield on the 10-year Treasury dropped to 4.24% after the Fed also announced a move that could help keep longer-term yields lower.