How major US stock indexes fared Wednesday

Stocks rose modestly on Wall Street after the Federal Reserve reaffirmed that it is prepared to cut interest rates if needed to shore up the economy.

The bond market had a more pronounced reaction to the Fed's announcement Wednesday. The yield on the 10-year Treasury note fell to 2.03%, its lowest level since November 2016.

On Wednesday:

The S&P 500 rose 8.71 points, or 0.3%, to 2,926.46.

The Dow Jones Industrial Average gained 38.46 points, or 0.1%, to 26,504.

The Nasdaq composite added 33.44 points, or 0.4%, to 7,987.32.

The Russell 2000 index of smaller companies picked up 5.35 points, or 0.3%, to 1,555.58.

For the week:

The S&P 500 is up 39.48 points, or 1.4%.

The Dow is up 414.39 points, or 1.6%.

The Nasdaq is up 190.66 points, or 2.4%.

The Russell 2000 is up 33.08 points, or 2.2%.

For the year:

The S&P 500 is up 419.61 points, or 16.7%.

The Dow is up 3,176.54 points, or 13.6%.

The Nasdaq is up 1,352.05 points, or 20.4%.

The Russell 2000 is up 207.02 points, or 15.4%.