US stocks close higher ahead of Federal Reserve's decision

The major US stock indices rose on Tuesday, lifted by the tech sector, but today's were curbed gains pending the Federal Reserve's decision.

The Federal Reserve started its monthly meeting today, to discuss the latest developments in the US economic scene amid the coronavirus crisis, will reveal the interest rate decision tomorrow.

It is widely expected that the Fed will keep the interest rates near zero unchanged in line with Chairman Jerome Powell's recent remarks to hold the rate until the economy fully recovers.

Data showed today that US industrial production fell 0.4% in August, while the import prices index rose 0.9%.

To the oil market, WTI October futures at Nymex rose 2.7% or $1.02 to close at $38.28 a barrel, after hitting a high of $38.5 and a low of $37.6.

Brent November futures rose 2.3% or 92 cents, to close at $40.68 a barrel, with a high of $40.8 and a low of $39.3.

As for stocks, Dow Jones rose 2 points to close at 27995, after it hit a day high 28231 and a low 27931.

Nasdaq rose 1.82% or 133 points to 11,190, after it hit a high 11,244 and a low 11,127.

S&P 500 rose 0.5% or 17 points to 3,401, after it hit a high 3,419 and a low 3,389.