U.S. stocks opened slightly higher on Wednesday, as investors awaited the Federal Reserve’s latest monetary policy decision. The Dow Jones Industrial Average lately gained 61.23 points, or 0.23%, to 26,526.77. The S&P 500 rose 2.47 points, or 0.08%, to 2,920.22. The Nasdaq Composite was down 4.85 points, or 0.06%, to 7,949.03.
Oil futures prices slipped Wednesday, as a snapshot of U.S. supply data showed a drawdown in stockpiles that was smaller than bullish investors had expected. West Texas Intermediate crude for July delivery fell 8 cents, or 0.2%, to $53.83 a barrel. August Brent crude fell 51 cents, or 0.8% to $61.63 a barrel.
The Federal Open Market Committee (FOMC) will release a statement detailing its latest monetary policy decision and assessment of the economy at 2 p.m. ET Wednesday. Fed Chair Jerome Powell will give a press conference thereafter.
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