U.S. stocks kicked off trade tentatively higher on Wednesday as investors awaited the Federal Reserve’s policy statement later in the session, with officials set to lift benchmark interest rates by a quarter of a percentage point and market’s hoping for clarity on the central bank’s plan for monetary policy in coming months and years. The Dow Jones Industrial Average DJIA, +0.07% rose less than 0.1% at 25,326, the S&P 500 index SPX, +0.13% climbed less than 0.1% at 2,788, while the Nasdaq Composite Index COMP, +0.53% rose at 0.1% at 7,713. Concerns about monetary stimulus ebbing have joined worries about politics and trade spats emanating from President Donald Trump’s administration. Futures markets point to a 94% chance that the Fed will increase its benchmark rate by 0.25 percentage point to a 1.75%-2% range, marking the second rise this year and the seventh since the start of monetary policy normalization in December of 2015. In corporate news, shares of AT&T Inc. T, -4.32% and Time Warner Inc. TWX, +3.20% were in focus after a federal judge approved a merger of the media and telecommunications companies.
Stocks open slightly higher as Fed decision looms
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