Stocks Opened Higher ahead of Fed Decision

U.S. stocks opened higher on Wednesday as investors awaited the latest monetary policy decision from the Federal Reserve. The Dow Jones Industrial Average lately rose 60.32 points, or 0.23%, to 26,653.23. The S&P 500 added 4.31 points, or 0.15%, to 2,950.14. The Nasdaq Composite advanced 29.95 points, or 0.37%, to 8,125.33.

Oil prices took to split paths early Wednesday, with U.S.-priced crude lower after a snapshot of production data revealed a U.S. inventory build. But the international benchmark Brent maintained modest gains, to build on a strong April showing. West Texas Intermediate crude for June delivery was down 31 cents, or 0.5%, at $63.60 a barrel. July Brent crude was up 74 cents, or 1%, at $72.78 a barrel.

The Federal Open Market Committee releases its monetary policy statement at 2 p.m. ET, in which the central bank is widely anticipated to leave key interest rates unchanged at between 2.25% and 2.5%.

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