(Reuters) - U.S. stocks rose on Wednesday, with the S&P 500 ending at a record after the Federal Reserve hinted at a slightly faster pace of interest-rate increases starting next year, but suggested rates in the long run would be lower than it had indicated previously.

The Dow Jones industrial average .DJI rose 98.13 points or 0.58 percent, to end unofficially at 16,906.62. The S&P 500 .SPX gained 14.99 points or 0.77 percent, to finish unofficially at 1,956.98, eclipsing the previous record set on June 9. The Nasdaq Composite .IXIC added 25.60 points or 0.59 percent, to close unofficially at 4,362.84.