US STOCKS-S&P 500, Nasdaq end up as Fed in no rush to raise rates

miércoles 30 de julio de 2014 17:11 GYT

* Fed reduces asset purchases, upgrades economy assessment

* GDP shows stronger economic growth than expected in Q2

* Twitter shares rally a day after results

* Dow down 0.2 pct, S&P up 0.01 pct, Nasdaq up 0.5 pct (Updates with Whole Foods and Akamai down after the bell)

By Caroline Valetkevitch

NEW YORK, July 30 (Reuters) - The S&P 500 and Nasdaq ended higher on Wednesday after the Federal Reserve gave a rosier assessment of the U.S. economy while reaffirming that it is in no hurry to raise interest rates.

The U.S. central bank also, as expected, reduced its monthly asset purchases to $25 billion from $35 billion.

Among the biggest positives were bank shares, with the S&P financial index up 0.4 percent, helping to support the S&P 500. Shares of Wells Fargo gained 1.1 percent to $52.10.

"We got the taper as expected, and the real viewpoint of the committee is they can keep monetary policy accommodative even after we reach our inflation and employment goals," said Art Hogan, chief market strategist at Wunderlich Securities in New York.   Continuación...