"Stocks Surge as Fed Holds Rates, Tech Sector Soars"

US stocks rallied after the Federal Reserve decided to leave interest rates unchanged, with the S&P 500 up over 1% and the tech-heavy Nasdaq surging 1.6%. The Fed's decision to hold rates steady at 5.25%-5.50% comes as the central bank waits to see the impact of its previous rate hikes on the US economy. Fed Chair Jerome Powell emphasized that the central bank's projections, including the "dot plot," are not promises or plans for the future. Investors have adjusted their expectations for future rate hikes, with a 73% chance that rates will remain steady through the January meeting. The Fed also upgraded its assessment of the US economy to "strong" in the third quarter.