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Stocks Manage Gains After Fed - CNNMoney.com -- Stocks climbed Wednesday, ending a choppy session higher after the Federal Reserve held interest rates steady and hinted it would continue to do so for the foreseeable future. Meanwhile, Apple introduced its new iPad tablet computer.

The Dow Jones industrial average gained 42 points, or 0.4%. The S&P 500 index gained 5 points, or 0.5%. The Nasdaq composite rose 18 points, or 0.8%.

Dollar Strengthens After Fed Statement - CNNMoney.com -- The dollar extended its gains against the euro and rose against the yen Wednesday, after the Federal Reserve announced plans to hold interest rates steady as it said economic conditions continued to pick up.

The dollar rose less than half a percent against the euro to $1.4023. It recovered earlier losses against the yen and rose a third of a percent to ¥90.01. The greenback erased some losses versus the pound, but remained weak at $1.6169.

Fed: Recovery Gaining Strength - On Wednsday the Federal Reserve said the U.S. economy continues to show signs of modest improvement but signaled it will stay the course and keep interest rates low to help spur a recovery.

As expected, the central bank left its key interest rate, the federal funds rate, near 0%, the level it has been at since December 2008. That rate is used as a benchmark for a broad range of business and consumer loans.

In a statement released at the end of its two-day meeting, the Fed pointed to improvement in business spending, but said that the "recovery is likely to be moderate for a time."