Wall Street struggles to recover from post FOMC sell-off

The Dow Jones Industrial Average rose Thursday following a dismal day for the major averages after the Federal Reserve held steady on rates but signaled that a March cut is unlikely.

The 30-stock Dow added market index climbed 211 points, or 0.5%, while S&P 500 added 0.7%. The Nasdaq Composite gained 0.7%.

Wall Street is coming off a poor session. The Dow fell 317 points, or 0.8%, posting its worst day since December. The S&P 500 slid 1.6% on Wednesday in its worst day since September. The Nasdaq Composite lost 2.2%, its worst session since October.

Those losses come after Fed Chair Jerome Powell in his post-meeting conference discouraged investor hopes for a rate cut as soon as March, sending equities tumbling.

Economists believe the market has been getting ahead of itself, with pricing in many more rate cuts, because it will be associated with a much weaker economy if they were to cut as many times as the market is currently pricing.

Investors also analyzed a new batch of quarterly earnings. Honeywell stock fell nearly 4% as Q4 revenue missed analyst expectations. Qualcomm shares fell 4% as lower-than-expected revenue guidance overshadowed a Q1 earnings beat.