US: Stocks rise as market awaits Fed announcement
Add BT as a preferred source[NEW YORK] Wall Street stocks on Wednesday opened higher following a weak US inflation report as the market awaited a policy announcement by the Federal Reserve.
Five minutes into trade, the Dow Jones Industrial Average stood at 17,113.67, up 44.80 points (0.26 per cent).
The broad-based S&P 500 advanced 6.64 (0.34 per cent) to 1,979.38, while the tech-rich Nasdaq Composite Index rose 4.97 (0.11 per cent) to 4,552.80.
US consumer prices fell 0.3 per cent in November, much more than forecast, due to a 3.8 per cent fall in energy prices.
The slowdown in inflation eases pressure on the Fed to raise interest rates from the zero-level where they have sat for six years.
The Fed completes a two-day policy meeting later Wednesday in which it is expected to update the outlook for tightening monetary policy in the coming year.
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US stocks have fallen the last three sessions amid concerns over low oil prices and a big drop in the Russian ruble.
AFP
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