Stocks held gains following an announcement by the Federal Reserve that the economy has been expanding moderately, notwithstanding apparent slowing in global growth.

The Dow Jones industrial average <.DJI> was up 71.52 points, or 0.59 percent, at 12,092.91. The Standard & Poor's 500 Index <.SPX> was up 4.44 points, or 0.36 percent, at 1,240.91. The Nasdaq Composite Index <.IXIC> was up 2.43 points, or 0.09 percent, at 2,614.69.

(Reporting by Angela Moon; Editing by Jan Paschal)