Dow, S&P 500 rise to session highs after Fed rate decision

Last Updated Apr 27, 2016 4:58 PM EDT

U.S. stocks were mostly higher on Wednesday after the Federal Reserve held interest rates unchanged and Apple (AAPL) reported its first quarterly revenue decline since 2003.

The Dow Jones Industrial Average (I:DJI) rose 51 points, or 0.3 percent, to 18,042. The S&P 500 (SPX) was up nearly four points, or 0.2 percent, at 2,095. The Nasdaq Composite (I:COMP) shed 25 points, or 0.5 percent, to 4,863.

The disappointing earnings from the world's most valuable company intensified the bleak earnings atmosphere for technology companies.

Fed Funds futures had indicated virtually no chance that the Fed would increase its benchmark rate, and the afternoon statement from the central bank offered few hints.

Apple's results, posted after Tuesday's close, followed results from Microsoft (MSFT) and Alphabet (GOOGL), both of which missed expectations.