Wall Street today: US stocks rise as investors await Fed rate decision, Boeing climbs 6%, Tesla up 4.7%

Wall Street stocks rose on Wednesday ahead of the US Federal Reserve's monetary policy decision due later in the day.

The central bank is widely expected to leave the interest rate unchanged.

Investors will also be eyeing new economic projections from Feb policymakers.

At 11:39 a.m. ET the Dow Jones Industrial Average rose 260.14 points, or 0.63%, to 41,843.97, the S&P 500 gained 40.51 points, or 0.72%, to 5,654.94, and the Nasdaq Composite gained 175.40 points, or 1.01%, to 17,679.52.

At 09:48 a.m. ET the Dow Jones Industrial Average rose 211.05 points, or 0.51%, to 41,792.36, the S&P 500 gained 23.94 points, or 0.43%, to 5,638.60, and the Nasdaq Composite gained 96.19 points, or 0.55%, to 17,600.31.

In the bond market, the yield on the 10-year Treasury edged down to 4.30% from 4.31% late on Tuesday.

Gainers and losers

Boeing stock climbed 6% after the aircraft maker said it doesn't see a near-term impact from tariffs.

Tesla shares gained 4.7% after declining over the past two sessions.

Nvidia stock gained 1.4% after CEO Jensen Huang said on Tuesday the chip maker was well placed to navigate a shift in the artificial intelligence industry.

General Mills shares fell 2.3% despite reporting a stronger quarterly profit.

Crude oil

Oil prices dropped on Wednesday after Russia agreed to US President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's energy facilities.

Brent crude futures was down 11 cents, or 0.2%, to $70.56 a barrel at 1337 GMT. US West Texas Intermediate crude (WTI) was down 25 cents, or 0.3%, at $66.65.

Russian President Vladimir Putin agreed on Tuesday to halt attacking Ukrainian energy facilities but didn’t endorsed a full 30-day ceasefire that Trump hoped for.

Bullion

Gold prices were flat on Wednesday.

Spot gold edged lower 0.1% to $3,030.13 an ounce, as of 09:35 AM ET (1335 GMT).

US gold futures shed 0.1% to $3,038.00.

The gold had surged to an all-time high of $3,045.24 earlier in the session.

Spot silver dropped 1.2% to $33.61 an ounce.