US stocks open higher with Fed's meeting in focus

US stock indices rose in early trading on Tuesday, while investors focus on the Federal Reserve's meeting.

The US current account reading showed a deficit of $190 billion in August, better than forecasts of -$193 billion.

The number of the US building permits was at 1.73 million in August, while the number of housing starts was at 1.62 million units, beating forecasts of 1.55 million.

The Fed will convene later today to decide on monetary policy and provide clarity over the future of its moves, and will unveil its decisions tomorrow.

The Organization for Economic Cooperation and Development slashed its forecast for global economic growth in 2021 to 5.7%, and lowered its forecast for the US economic growth this year to 6%.

As for stocks, Dow Jones rose 0.4% or 131 points to 34,101 as of 14:18 GMT, and S&P 500 rose 0.2% or 9 points to 4,366, while Nasdaq rose 0.3% or 39 point to 14,753.