Stocks look add to gains, following Tuesday’s rebound.
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Dow Jones futures were rising by 0.10%. The S&P 500 added 0.10% and the Nasdaq Composite was up 0.05%.
Federal Reserve Chairman Jerome Powell’s first policy-setting meeting will conclude Wednesday with a decision on the fate of interest rates.
The market is convinced the Fed will announce a quarter point hike. The question remains will the Fed be looking toward three or four rate increases for the year.
Investors will be looking for answers when Powell holds his first news conference following the rate decision.
The Fed has raised rates five times since it began tightening policy in late 2015.
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Before the Fed decision, traders will digest the latest housing-related data in February’s existing home sales.
In Tuesday’s session, the Dow Jones Industrial Average rose 116.36 points, or 0.47%, 24,727.27. The S&P 500 gained 4.02 points, or 0.15%, to 2,716.94. The Nasdaq Composite was up 20.06 points, or 0.27%, at 7,364.30.
The major tech names were mixed, with Facebook experiencing its second-straight session of losses. The social media giant took a big hit on Monday, closing with a 6.8% loss, following news that a firm tied to President Donald Trump’s 2016 election campaign gathered data from millions of Facebook profiles without authorization. Facebook shares fell 2.6% on Tuesday.
Stocks in Asia got a boost from real estate names.
In China, the Shanghai Composite index was up 0.48%.
In Hong Kong, the Hang Seng Index was up 1.21%.
Markets in Japan were closed for the Vernal Equinox holiday.
