U.S. Stocks Rise on Federal Reserve Inaction; Bed Bath & Beyond Posts Weak Results

U.S. stocks rose on Thursday, fueled by the Federal Reserve's decision Wednesday to keep interest rates lower for longer. While the Fed kept rates unchanged, some experts worry about the central bank's credibility. "Credibility is out the window and forward guidance is dead," said Michael Ingram, a market analyst with BGC Partners, based in London. Weekly jobless claims fell by 8,000 to 252,000 over the past week, while analysts had expected a rise to 261,000 claims. Bed Bath and Beyond (BBBY) - Get Report  reported weaker-than-expected quarterly results on both the top and bottom lines. Comparable store sales, an important industry metric, dipped 1.2 % year-over-year. Rite Aid (RAD) - Get Report shares were in focus after the pharmacy retailer posted earnings of $0.03 a share, a penny ahead of forecasts. Comparable store sales rose 2.5% year-over-year, ahead of estimates. The company's merger with Walgreens Boots Alliance (WBA) - Get Report is pending. TheStreet's Scott Gamm reports from Wall Street.