US stock indices rise ahead of Fed's decisions

US stock indices rose on Wednesday ahead of the crucial Federal Reserve's decisions. 

The Fed will announce it rate decision later today, expected to hike rates by 75 basis points to rein in record inflation. 

Markets also await Fed Chair Jerome Powell's remarks in a press conference following the decisions. 

Otherwise, US President Joe Biden set up a $2.9 billion aid budget from the US to support global food relief efforts. 

On the other side, Russian President Vladimir Putin recently announced partial military mobilisation for Russian troops to defend the country against what he views as aggression. 

Dow Jones rose 0.6%, or 198 points to 30,901, while S&P 500 climbed 0.7% to 3,881, as NASDAQ rose 0.4% to 11,475.