Closing Bell: Sony Explores Virtual Reality; U.S. Stocks Rally on Fed

U.S. stocks ended Wednesday in the green thanks to a market surge mid-afternoon following the Federal Reserve announcement. Crude also had a good day, reclaiming a level above $38 a barrel. Doves cheered on the Fed after it slashed its forecasts to estimate only two rate hikes this year, down from December's forecasts for four. Fed Chair Yellen soothed markets by recommitting to gradual tightening. Peabody Energy (BTU) tanked after warning of a possible bankruptcy. The coal miner has suffered losses for nine straight quarters. Sony (SNE) jumped after announcing that its Playstation virtual-reality headset will be priced at a few hundred dollars cheaper than its rivals. The cheaper system could give the Japanese tech company an edge over competing products from Facebook (FB) and HTC. TheStreet's Keris Lahiff has details from Wall Street.