Stocks Opened Higher ahead of Fed Decision

U.S. stocks edged higher at open on Wednesday, as investors await the latest monetary policy decision from Federal Reserve officials. The Dow Jones Industrial Average lately rose 98.88 points, or 0.42%, to 23,774.52. The S&P 500 advanced 11.42 points, or 0.45%, to 2,557.58. The Nasdaq Composite gained 40.97 points, or 0.60%, to 6,824.88.

Oil markets traded higher Wednesday after a plunge a day earlier pushed the U.S. benchmark down to its lowest finish in nearly 16 months. January West Texas Intermediate crude  was up 31 cents, or 0.7%, at $46.55 a barrel. February Brent recovered some 13 cents, or 0.2%, at $56.39 a barrel.

General Electric Co. (GE), diversified industrial company, had confidentially filed for an initial public offering of its health-care unit, Bloomberg reported.