#FedMeeting
Fed Meeting Today: Dow Gains Ahead of FOMC Interest-Rate Decision
Investors also await comments from Fed Chair Jerome Powell
Stocks are back on the rise ahead of the Federal Reserve’s interest-rate decision.
The Fed is expected to keep interest rates on hold Wednesday, and pencil in one or two cuts for this year. Chairman Jerome Powell’s comments may give clues about the Fed’s approach to tariffs, which pose a challenge by threatening to slow growth and quicken inflation at the same time.
Overseas, Turkish markets tumbled after the arrest of Istanbul’s mayor, a leading political opponent of President Recep Tayyip Erdogan. Turkey’s stocks and currency slid.
In recent trading:
U.S. stock indexes advanced, with the Nasdaq Composite leading the way. On Tuesday, stocks resumed their recent decline, yanked lower by a slide in Nvidia and other big tech companies.
Ten-year Treasury yields ticked higher, after settling Tuesday at 4.28%.
The U.S. dollar strengthened against a basket of currencies.
Turkey’s lira dropped more than 3% against the dollar. The Borsa Istanbul 100 index fell more than 8%.
The yen weakened slightly against the dollar after the Bank of Japan left monetary policy unchanged.
Gold prices held near Tuesday's record of $3,035.10 a troy ounce.