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- US stocks were mixed on Wednesday after the Fed hiked interest rates by 25 basis points.
- Fed Chairman Jerome Powell left open the possibility for further interest rate hikes as inflation stays elevated.
- The Dow Jones Industrial Average gained to close out a 13-day win streak, its longest since 1987.
US stocks were mixed on Wednesday after the Federal Reserve hiked interest rates by 25 basis points, sending the effective fed funds rate to its highest level in 22-years.
While the S&P 500 and Nasdaq 100 traded slightly lower, the Dow Jones Industrial Average managed to finish the day higher, hitting a 13-day win streak. The Dow has surged just over 5% since its rally began on July 10, and hasn't seen a 13-day run of gains since January 1987, according to data compiled by Bloomberg.