Fed rate hike decision boosts stock market gains.

The US stock market rose after the Federal Reserve announced a 0.25% rate hike, as expected. The Fed left its options open for June, saying future rate hikes would be dependent on the impact of previous rate hikes on the economy. Analysts say inflation remains sticky, the labor market is still hot but softening, and the economy is resilient. The S&P 500 regional banking index rose more than 1% Wednesday after falling on Tuesday. Hiring at private companies unexpectedly rose by 296,000 for April, above economists call for 148,000, according to payroll processing firm ADP.