US stock market opens higher ahead of Fed announcement

A rate hike is not expected this month, but Fed could signal possibility for December

NEW YORK (AA) – The U.S. stock market opened with gains on Wednesday ahead of the Federal Reserve's much anticipated announcement of its interest rate decision.

The Dow Jones rose 81 points to begin the day at 18,211 and the S&P 500 was up eight points at 2,148. The Nasdaq increased 22 points to start the day at 5,263.

The Fed will announce its interest rate decision at 18:00 GMT, and the Fed Chair Janet Yellen will follow at 18:30 GMT with a speech about the bank's decision.

Although the Central Bank is not expected to increase its benchmark interest rate this month, analysts argue that statements from the Federal Open Market Committee and Yellen could be hawkish to signal a rate hike for the Fed's December meeting.

Kaynak:

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