Wall Street Opens Higher Ahead of Fed Announcement

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, on Jan. 25, 2022. (Brendan McDermid/Reuters)

Wall Street’s main indexes opened higher on Wednesday after two sessions of turbulent trading, supported by a stellar outlook from Microsoft and ahead of a Federal Reserve policy meeting announcement for cues on its plans to curb inflation.

The Dow Jones Industrial Average rose 223.09 points, or 0.65 percent, at the open to 34,520.82. The S&P 500 opened higher by 51.98 points, or 1.19 percent, at 4,408.43, while the Nasdaq Composite gained 332.47 points, or 2.46 percent, to 13,871.77 at the opening bell.