US stocks higher before Fed meeting

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened with gains on Wednesday before the Federal Reserve's monetary policy decision.

The Dow Jones was up 73 points, or 0.22%, to 33,125 at 9.59 a.m. EDT, while the S&P 500 rose 16 points, or 0.4%, to 4,210.

The Nasdaq, meanwhile, increased 63 points, or 0.49%, to 12,914 at the time.

The Fed's two-day meeting will conclude at 2.00 p.m. EDT, and the central bank is widely expected to hold its benchmark interest rate steady at 5.25%-5.0% range -- the highest in 22 years.

The VIX volatility index, also known as the fear index, fell 3.7% to 17.46. The 10-year US Treasury yield lost 1.3% to 4.815%.

The dollar index rose 0.34% to 107.0, while the euro decreased 0.33% to $1.0543 against the greenback.

Precious metals were mixed, with gold adding 0.3% to $1,990 an ounce but silver was flat at $22.85.

Oil prices increased around 2%, with global benchmark Brent crude at $86.72 per barrel and US benchmark West Texas Intermediate at $82.75.