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Stocks edge higher on Wall Street ahead of Fed statement
Sep 22, 2021 | USA Today
Picture - Stocks edge higher on Wall Street ahead of Fed statement

Stocks edged higher on Wall Street Wednesday ahead of an anticipated update from the Federal Reserve on how and when it might begin easing its support measures for the economy.

The S&P 500 rose 0.8% as of 10:02 a.m. Eastern. The Dow Jones Industrial Average rose 332 points, or 1%, to 34,252 and the Nasdaq rose 0.5%.

Gains within the S&P 500 were broad and could potentially break a four-day losing streak if they hold. Roughly 85% of stocks in the index rose. Banks and technology companies led the gains. A mix of health care and communications companies fell.

Smaller stocks did slightly better than the broader market. The Russell 2000 rose 1.1%.

The yield on the 10-year Treasury note held steady at 1.32%. Crude oil prices rose 1.7%.

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