Wall Street inches up before Fed's decision

U.S. stock indexes moved higher on Wednesday as investors closely awaited the Federal Reserve’s interest rate decision.

The Fed is set to announce its policy decision later today, with expectations pointing to an interest rate cut.

Markets are also focused on remarks from Fed Chair Jerome Powell and the updated projections from members of the Federal Open Market Committee following the meeting, as investors look for clues on the central bank’s outlook for monetary policy and the U.S. economy in 2026.

As for trading, the Dow Jones Industrial Average rose 0.5% to 47,780 points by 16:45 GMT (a gain of 220 points), while the S&P 500 added 0.1% to 6,842 points (up 2 points), and the Nasdaq Composite fell 0.3% to 23,501 points (down 75 points).