Wall Street rises as investors gear up for another big rate hike

Ten of the 11 major S&P 500 sectors were up in early trading, led by a 1.1% jump in energy and industrial shares

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City (Photo: Reuters)

Reuters
US stock indexes rose on Wednesday ahead of a widely expected hefty rate hike from the Federal Reserve, with investors waiting for cues on the length and depth of further policy tightening to tame surging price pressures.

Ten of the 11 major S&P 500 sectors were up in early trading, led by a 1.1% jump in energy and industrial shares.

The U.S. central bank will likely lift its policy rate by 75 basis points for the third time to a 3.00-3.25% range at the end of its two-day policy meeting, which will be followed by Fed Chair Jerome Powell's news conference.

Updated economic

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sep 21 2022 | 7:13 PM IST

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