How major US stock indexes fared Wednesday, 7/26/2023

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Wall Street held steady after the Federal Reserve followed through on expectations and raised its benchmark interest rate to the highest level in more than two decades. Treasury yields fell following Wednesday’s announcement, which traders hope will mark the final increase of this cycle. The S&P 500 closed just barely lower. The Dow rose 82 points, or 0.2%, and the Nasdaq composite fell 0.1%. Microsoft fell 3.7% following its earnings report, while Alphabet rose 5.6%. The parent company of Google and YouTube reported better profit and revenue than analysts expected. On Wednesday: The S&P 500 fell 0.71 points, less than 0.1%, to 4,566.75. The Dow Jones Industrial Average rose 82.05 points, or 0.2%, to 35,520.12. The Nasdaq composite fell 17.27 points, or 0.1%, to 14,127.28. The Russell 2000 index of smaller companies rose 14.24 points, or 0.7%, to 1,980.36. For the week: The S&P 500 is up 30.41 points, or 0.7% The Dow is up 292.43 points, or 0.8% The Nasdaq is up 94.48 points, or 0.7% The Russell 2000 is up 20.10 points, or 1% For the year: The S&P 500 is up 727.25 points, or 18.9%. The Dow is up 2,372.87 points, or 7.2%. The Nasdaq is up 3,660.80 points, or 35%. The Russell 2000 is up 219.11 points, or 12.4%.