U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

Stocks were choppy in the lead-up to today's Federal Reserve policy announcement. While the main indexes made a confident move higher after the central bank cut rates by a half-percentage point, a late-day burst of selling pressure sent them into the red at the close.

U.S. stock indexes remained stuck in place as Wall Street made few big moves ahead of what’s expected to be the first cut to interest rates in more than four years.