US stocks rise on Fed stimulus hopes

US stocks opened higher Wednesday as investors expected the Federal Reserve would announce new support for the sluggish economy following a two-day monetary policy meeting.

The Dow Jones Industrial Average climbed 37.44 points (0.28 percent) to 13,285.88 in the first 10 minutes of trade, building on a five-day winning streak.

The S&P 500-stock index advanced 4.08 (0.29 percent) to 1,431.92, while the tech-rich Nasdaq Composite added 9.87 (0.33 percent) at 3,032.17.

The central bank's Federal Open Market Committee is due to announce its monetary policy update at 12:30 pm (1730 GMT).

"Wall Street is speculating the Fed will replace the expiring Operation Twist program with a fresh round of Treasury purchases," said Karee Venema of Schaeffer's Investment Research.

On Tuesday, gains in technology shares underpinned Wall Street gains.

The Dow added 0.60 percent, the S&P 500 rose 0.65 percent and the Nasdaq 1.18 percent.

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  • Most Actives
    Most Actives
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    BS6.SI
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    S46.SI
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    5EC.SI
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    1A1.SI
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    AYN.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.235-0.055-18.97%
    PA3.SI
    0.136-0.029-17.58%
    5NF.SI
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    SGDJPY=X
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    SGDCNY=X
    1.0350-0.0007-0.07%
    AUDSGD=X
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    19.77-0.32-1.61%
    SIZ16.CMX
    95.76-3.02-3.05%
    ^XAU
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    HGZ16.CMX
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    CLV16.NYM
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