U.S. stock indices rose at the start of trading on Wednesday, recording a new all-time high, while awaiting the Federal Reserve’s decision on interest rates later today, along with comments from the central bank’s chair that will follow.
The Dow Jones Industrial Average increased by 0.45% or 203 points, reaching 47,909 points, at 4:35 PM Mecca time.
The S&P 500 index also rose by 0.30% or 21 points to 6,912 points, marking the first time it has exceeded 6,900 points. The Nasdaq Composite climbed approximately 0.65% or 148 points to 23,976 points, after touching 24,003 points, a record high.
Alphabet, Meta, and Microsoft are set to announce their quarterly earnings after today’s market close, while Amazon and Apple will release their earnings after the close on Thursday.
Investors are awaiting the Federal Reserve’s decision on interest rates today, with expectations pointing to a 25 basis point cut, following the reduction made in September, which was the first this year. Observers are looking forward to a speech from Fed Chair Jerome Powell after the decision, hoping for more clarity on the future monetary policy.
