The Dow Jones industrial average rose 21.82 to 5,721.26. It was the first close above 5,700 in a week.
Advancers outnumbered decliners by nearly a 7-to-6 margin on the New York Stock Exchange, with 1,259 up, 1,088 down and 852 unchanged. NYSE volume totaled 334.95 million shares vs. 293.95 million yesterday.
The NYSE's composite index slipped 0.03 to 356.61, and the Standard & Poor's 500 fell 0.87 to 665.71.
The Nasdaq composite index fell 6.24 to 1,124.67, and the American Stock Exchange index rose 1.69 to 559.29.
The blue-chip barometer was led by its heavy-industry concerns that would have suffered the most if the Fed raised its lending rates, slowing spending on bigger purchases such as cars and houses.
But most broader measures were nearly unchanged after the central bank left its key short-term interest rates unchanged, apparently satisfied the recently robust economy is slowing on its own and inflation is not a threat.
Since the decision was widely anticipated, there was no significant market reaction afterward.
The Nasdaq market was again the market's weakest sector, weighed down by technology shares, which are considered more volatile and have struggled to rebound as fully as the rest of the market from July's tumbles.