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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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3753-0.0029-0.21%
    USDSGD=X
    1.5386+0.0008+0.05%
    EURSGD=X
    2.0226-0.0035-0.17%
    GBPSGD=X
    79.9434-0.0188-0.02%
    SGDJPY=X
    5.6466+0.0116+0.21%
    SGDHKD=X
    2.9516-0.0177-0.60%
    SGDMYR=X
    9,850.6855-29.9521-0.30%
    SGDIDR=X
    4.7685+0.0103+0.22%
    SGDCNY=X
    0.9935+0.0018+0.18%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,229.20+5.40+0.44%
    GCM16.CMX
    16.49+0.22+1.38%
    SIN16.CMX
    82.23+2.07+2.59%
    ^XAU
    2.11+0.01+0.57%
    HGN16.CMX
    49.84+0.28+0.56%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.40+0.01
    ^FVX
    1.87+0.01
    ^TNX
    2.67+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.310.00+1.64%
    N21.SI
    0.112-0.002-1.75%
    40E.SI
    3.86+0.04+1.05%
    Z74.SI
    1.775-0.010-0.56%
    MC0.SI
    0.375+0.005+1.35%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.03+17.35%
    BER.SI
    0.12+0.02+14.29%
    T42.SI
    0.35+0.03+11.11%
    L5I.SI
    0.26+0.02+10.64%
    BKW.SI
    0.152+0.012+8.57%
    5OT.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.37-0.13-26.00%
    BKK.SI
    0.525-0.140-21.05%
    AWE.SI
    0.40-0.08-16.67%
    BLR.SI
    0.15-0.03-16.20%
    5PF.SI
    0.28-0.04-12.50%
    BOU.SI