Stocks open higher ahead of Federal Reserve decision on interest rates
CBSN
Stocks opened Wednesday, with a raft of corporate earnings reports sparking a sharp rebound from losses a day earlier. Traders are prepared for what most expect to be a sharp interest rate hike by the Federal Reserve to cool surging inflation.
The Wall Street's benchmark S&P 500 index rose 48 points to 3,969, or 1.2%, as of 10:15 Eastern time, while the Dow Jones Industrial Average added 0.4%. The tech-heavy Nasdaq posted the strongest gains, 2.4%.
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