NEW YORK (AP) — The U.S. stock market is holding near its all-time high on Wednesday after the Federal Reserve cut its main interest rate to bolster the job market, just like nearly everyone on Wall Street expected.

The S&P 500 rose 0.1% and inched closer to its record, which was set in October. The Dow Jones Industrial Average was up 248 points, or 0.5%, as of 2:05 p.m. Eastern time, and the Nasdaq composite was 0.2% lower.

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