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The S&P 500 rose Wednesday as investors awaited a policy announcement from the Federal Reserve later in the day.
The Dow Jones Industrials recovered 338.09 points to move into noon hour Wednesday at 41,919.40
The broader index regained 50.87 points to 5,665.53
The NASDAQ reversed its downward path and tallied 206.40 points, or 1.2%, to 17,710.52
The major averages have been on a roller-coaster ride in recent weeks, as traders navigate soft economic data and uncertainty around President Donald Trump’s tariff policy. The S&P 500 officially entered correction territory last week, and the NASDAQ is still in a correction — meaning it’s down more than 10% from its recent high.
The Fed is scheduled to deliver its latest policy decision at 2 p.m. ET. Though the Fed is widely expected to maintain a steady hand on interest rates, investors will look for whether the Fed keeps its outlook for two rate cuts this year.
They will also listen to Fed Chairman Jerome Powell for clues on how he sees the economy against a backdrop of rising tensions between the U.S. and major trade partners.
Along with its policy decision, the Fed will unveil its quarterly projections on GDP, unemployment and inflation.
Prices for the 10-year Treasury eked lower Wednesday, raising yields to 4.30% from Tuesday’s 4.29%. Treasury prices and yields move in opposite directions.
Oil prices were higher 0.23 cents to $67.13 U.S. a barrel.
Prices for gold dropped 80 cents an ounce to $3,040 U.S.
