Fed's Decision Maintains Wall Street's Uptrend

Stocks on Wall Street saw gains with the S&P 500 and Nasdaq rising following Apple's sales forecast. The Federal Reserve is expected to maintain interest rates, reflecting inflation stability. Chevron's disappointing earnings led to its decline, while Atlassian rallied after positive revenue projections.

The S&P 500 and the Nasdaq continued their upward trajectory on Friday, bolstered by Apple's promising sales forecast and an inflation reading aligning with expectations that the Federal Reserve would keep interest rates steady. December's consumer spending surge further supported this sentiment.

Despite initial gains, Apple saw moderated growth, advancing 0.7% after acknowledging ongoing challenges in China primarily attributed to supply-chain disruptions. Chevron's shares fell 3.7% after missing quarterly earnings expectations, impacting the energy sub-sector negatively.

As anticipated, the Fed held its rates unchanged. Traders are betting on a 70% chance of rate cuts resuming in June. Meanwhile, Atlassian's stocks soared by 18.1% after upwardly revising its revenue forecasts. Overall, major U.S. indexes are set to finish the month positively.

(With inputs from agencies.)