US markets rise as Fed holds rates, chip earnings lift indices

US stock markets closed higher after the Federal Reserve left interest rates unchanged while it continues to assess the economy. The decision came as the Fed watches inflation and growth data. A sharp rebound in chipmakers lifted the indices, driven by strong earnings from South Korean memory maker SK Hynix. Analysts now say there is a notable chance the Fed will raise rates at its December meeting.## Context The Fed’s pause signals caution amid mixed economic signals, and a rate hike later in the year would affect borrowing costs for businesses and consumers. Chip earnings often sway market mood because they reflect demand for technology and data‑center hardware. Investors watch these cues to gauge future market direction.