New York: US stocks rebounded early Wednesday, as investors awaited the conclusion of a two-day meeting of the US Federal Reserve’s policymaking panel.
The blue-chip Dow Jones Industrial Average gained 150.99 points (1.30%) to 11,808.95 in the first 10 minutes of trade.
New York Stock Exchange building in New York. Photo: Bloomberg
The tech-heavy Nasdaq Composite opened up 30.12 points (1.16%) to 2,637.08.
The S&P 500 stock index, a broader measure of the markets, gained 17.71 points (1.45%) to 1,235.99.
“The upside bias this morning has been pinned on speculation the Fed might announce a third quantitative easing plan at the conclusion of its FOMC meeting today, with a focus on buying mortgage-backed securities,” said analysts at Briefing.com.