Dow Jones rise ahead of Fed decisions

Most US stock indices rose on Wednesday ahead of Fed policy decisions.

Stocks were boosted today as US treasury yields fell off 2007 highs, while US crude also retreated after a recent spike.

The Federal Reserve will announce policy decisions later today, widely expected to hold rates steady, with Fed Chair Jerome Powell speaking afterwards on the path ahead.

Concerns about stubborn inflation were renewed as global oil prices surged past $94 for the first time in ten months. 

Investors will look closely for any clear hints in the Fed's press release or Fed Chair's press conference to gauge the likelihood for another US interest rate hike this year.

On trading, Dow Jones rose 0.5%, or 160 points to 34,680 as of 15:59 GMT, while S&P 500 rose 0.2%, or 9 points to 4,452, as NASDAQ fell 0.1%, or 17 points to 13,660.