All three major indexes turned positive before the close of Tuesday’s session and equities are continuing the momentum.
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Dow Jones futures were rising by 0.6 percent. The S&P 500 added 0.7 percent and the Nasdaq Composite was up 0.6 percent.
The Fed’s two-day meeting concludes Wednesday with an announcement about whether the central bank will raise a key interest rate, something that has been expected – and feared by investors — but which may not happen in the face of a massive equity decline.
In addition to the Fed decision, investors will get the second housing-related report of the week in the form of existing home sales.
The earnings calendar includes results from General Mills, Pier 1 and Rite Aid.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 23675.64 | +82.66 | +0.35% |
| SP500 | S&P 500 | 2546.16 | +0.22 | +0.01% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6783.9114 | +30.18 | +0.45% |
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U.S. stocks overcame a late-session retreat that wiped out the day’s gains to close higher as investors waited to see if the Federal Reserve would raise interest rates.
All major equity indexes were up from the session opening, but about an hour before closing surrendered those gains after Senate Majority Leader Mitch McConnell, R-Kent., said Democrats had rejected a short-term spending bill. Then, shortly before the closing bell, all three major indexes turned positive.
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In Asian markets on Wednesday, China’s Shanghai Composite closed the day falling 1.1 percent.
Hong Kong’s Hang Seng ended the day up 0.2 percent.
Japan’s Nikkei closed down 0.6 percent.
In European trading, London’s FTSE opened up 0.1 percent higher, Germany’s DAX added 0.3 percent and France’s CAC rose by 0.4 percent.
