U.S. stocks erase premarket losses and open higher as Fed meeting awaits

U.S. stocks opened higher on Wednesday after erasing premarket losses following the Treasury’s release of its latest refunding schedule. Investors are now looking ahead to Federal Reserve Chairman Jerome Powell’s afternoon press conference and the release of the central bank’s latest decision on interest rates. The S&P 500
SPX,
+0.75%
opened higher by 7 points, or 0.1%, to 4,199. The Nasdaq Composite
COMP,
+0.90%
rose by 36 points, or 0.3%, to 12,884. The Dow Jones Industrial Average
DJIA,
+0.62%
rose by 11 points, or less than 0.1%, to 33,058. Futures traders see virtually 100% probability that the Fed will keep rates on hold, but investors will be listening for more clues about how rising bond yields might factor into the central bank’s thinking.