US stock indices gain some modest ground

US stock indices rose in American trade on Wednesday ahead of the Federal Reserve's policy decisions and Fed Chair Jerome Powell's policy remarks.

The Fed is wrapping up its two-day policy meeting today, expected to maintain interest rates flat at 5.5%, already the highest in over two decades.

Now investors await Fed Chair Jerome Powell's press conference later today, expected to include important clues on the likely path ahead for policies. 

As for data, US producer prices fell 0.9% y/y in November, a sign of slowing inflationary pressures. 

On trading, Dow Jones rose 0.03%, or 11 points to 36,590 as of 16:55 GMT, while S&P 500 rose 0.1%, or 6 points to 4,650, as NASDAQ added 0.1%, or 14 points to 14,547.