04:45 PM EDT, 03/19/2025 (MT Newswires) -- US benchmark equity indexes closed higher Wednesday after the Federal Reserve held its interest rate outlook steady for 2025, indicating potential policy easing.

The Nasdaq Composite increased 1.4% to 17,750.8, while the S&P 500 advanced 1.1% to 5,675.3. The Dow Jones Industrial Average rose 0.9% to 41,964.6. All sectors closed higher, led by consumer discretionary and energy.

The central bank's Federal Open Market Committee left its benchmark lending rate steady at 4.25% to 4.50% for a second straight meeting. It kept its policy outlook intact through 2027 while downgrading its economic projections. Policymakers continue to see the median federal funds rate at 3.9% this year, unchanged from their December guidance.

"Uncertainty around the economic outlook has increased," the FOMC said in a statement. Separately, Fed Chair Jerome Powell said the FOMC doesn't "need to be in a hurry" to adjust policy, reiterating his recent remarks.

"While the Fed maintains a relatively positive assessment of current conditions, the committee is wary of at least some headwinds, particularly stemming from fiscal policy initiatives," Stifel said.

US Treasury yields moved lower Wednesday, with the two-year sliding 6.3 basis points to 3.98% and the 10-year yield losing 3.3 basis points to 4.25%.

In company news, Boeing ( BA ) shares rallied 6.8%, the top gainer on the Dow and the S&P 500. The plane maker's first-quarter cash burn is expected to be smaller than previously projected, Chief Financial Officer Brian West said.

Tesla (TSLA) was among the best performers on the S&P 500, up 4.7%. The electric vehicle maker has completed the first of several steps needed to operate its Robotaxi business in California, securing a Transportation Charter Permit from the California Public Utilities Commission.

General Mills ( GIS ) lowered its full-year outlook and reported fiscal third-quarter revenue below expectations as the Cheerios and Dunkaroos maker faced inventory headwinds and a slowdown in snacking categories in the US. The company's shares fell 2.1%.

An expected rebound in merger and acquisition activity this year will be either delayed or cancelled amid heightened uncertainties around tariffs and the fiscal cleanse targeted at the federal government, Oppenheimer said. The brokerage downgraded Goldman Sachs ( GS ) , Jefferies Financial Group ( JEF ) and Carlyle Group ( CG ) .

West Texas Intermediate crude oil rose 0.5% to $67.21 a barrel Wednesday. Commercial crude stockpiles in the US increased more than projected last week, government data showed.

Gold rose 0.5% to $3,056.10 per troy ounce, while silver fell 1.1% to $34.43 per ounce.