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US stocks rebound as Fed meeting begins

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New York: US stocks traded higher as the Federal Reserve started its two-day policy meeting.

The Dow Jones Industrial Average rose on Tuesday 47.28 points, or 0.26 per cent, to 18,167.45, Xinhua news agency reported.

The S&P 500 added 4.38 points, or 0.20 per cent, to 2,143.50. The Nasdaq Composite Index was up 10.30 points, or 0.20 per cent, to 5,245.33.

The Fed will make a policy announcement on Wednesday after the conclusion of the meeting.

The central bank, however, is expected to leave rates unchanged this week and not lift again until December.

Financial markets have been choppy since last week on contrasting remarks on rate hikes by Fed officials.

On Monday, US stocks reversed early gains to end slightly lower as Wall Street awaited the US central bank’s policy meeting.

IANS

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