S&P 500, Dow edge up as materials, energy stocks gain

The Fed, which left rates unchanged, pointed to moderate U.S. economic growth and strong job gains but cautioned about risks from an uncertain global economy. "The market is trying to digest exactly what's going on with the Fed," said John Burke, chief executive of Burke Financial Strategies in Iselin, New Jersey. Burke said the market was assessing the impact of the rising oil prices on the economy and the Fed's moves.