US markets showed positive momentum on Wednesday morning as investors eagerly awaited the Federal Reserve's interest rate decision scheduled for later in the day.
The Federal Reserve is set to conclude its policy meeting today, with expectations that officials will maintain interest rates at their current levels. The focal point of the day will be Fed Chair Jerome Powell's press conference at 2 pm ET, where investors will be closely monitoring for any indications regarding potential future rate cuts.
Chipmakers played a significant role in driving tech stocks higher, particularly after Advanced Micro Devices exceeded earnings expectations. This positive performance in the tech sector contributed to the overall market gains.
The Dow Jones Industrial Average was up by 129 points, representing a 0.3% increase. The S&P 500 also experienced growth, rising by 1.3%, while the Nasdaq Composite saw a notable gain of 2.2%.
