Dow Jumps 400 Points As Stocks Continue To Rebound Ahead Of Federal Reserve Decision

Dow Jumps 400 Points As Stocks Continue To Rebound Ahead Of Federal Reserve Decision

Share to Linkedin The stock market opened higher on Wednesday, adding to gains earlier this week, as investors await the Federal Reserve's latest monetary policy decision, with the central bank expected to raise rates for the first time since 2018 as it looks to combat surging inflation. Stocks rose for a second day in a row: The Dow Jones Industrial Average jumped 1. 3%, over 400 points, while the S&P 500 rose 1. 7% and the tech-heavy Nasdaq Composite 2. 5%. All eyes will be on the Federal Reserve as it wraps up its two-day policy meeting on Wednesday: The central bank is widely expected to raise interest rates, by a quarter percentage point, for the first time since 2018. With inflation at 40-year highs and showing no sign of moderating soon, Investors will be looking for clues on the Fed's rate hiking path, with experts predicting the central bank to raise rates five or six times in 2022. Markets also got a boost from hopes of a possible ceasefire agreement in the Russia-Ukraine war, with Ukrainian President Volodymyr Zelenskyy saying in an address on Tuesday that a deal was beginning to "sound more realistic," while Russian Foreign Minister Sergei