US stock markets closed higher on Thursday after the Federal Reserve increased interest rates for the first time this year and signaled a faster pace of hikes in 2017.

The Dow Jones Industrial Average went up 59.71 points or 0.3 percent to settle at 19,852.24. NASDAQ 100 index gained 12.19 points or 0.25 percent to close at 4,933.41. The broader S&P 500 index gained 8.75 points or 0.39 percent to end at 2,262.03.