US stocks rise as bond yields fall after the Fed keeps interest rates steady

• US stocks climbed Monday as the Fed announced its decision to keep interest rates unchanged.
• Bond yields ticked lower, with the 10-year Treasury yield slipping 11 basis-points.
• The fed funds rate remains in the range of 5.25%-5.50%, the highest level since 2001.

US stocks closed higher on Wednesday as investors took in the Federal Reserve's latest interest rate decision.

All three benchmark indexes ended the day with gains, while the yield on the 10-year US Treasury slid 11 basis points to around 4.76%.

Fed officials chose to keep interest rates level at their November policy meeting, in-line with investors' expectations. The Fed funds rate is still in the 5.25%-5.5% range, the highest interest rates have been since 2001.