Wall Street extends rally after Fed rate decision

U.S. stocks marched higher on Thursday, with the Nasdaq hitting a record intraday high, as investors cheered the Federal Reserve's decision to not raise interest rates. While the Fed said the risks to economic outlook were roughly "balanced", it left rates unchanged for want of "further evidence of continued progress". The Fed also slowed the pace of future hikes and cut its longer run interest rate forecast, but sent a strong signal for a rate hike by the end of this year.