U.S. stocks opened modestly higher Wednesday, as investors await the outcome of the Federal Reserve’s policy meeting. The Dow Jones Industrial Average DJIA was up 0.2% soon after the opening bell, while the S&P 500 SPX rose 0.1% and the Nasdaq Composite COMP gained 0.1%, according to FactSet data, at last check. The Fed will announce its decision on interest rates at 2 p.m. Eastern Time on Wednesday, with many investors expecting it will hike its benchmark rate by a quarter percentage point to a target range of 5% to 5.25%. Fed Chair Jerome Powell is scheduled to hold a press conference on the central bank’s policy decision at 2:30 p.m. Eastern Time.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.