US open: Stocks higher ahead of FOMC decision

Major indexes were in the green early Wednesday as market participants awaited the Federal Reserve’s interest rate decision later in the session.

As of 1530 GMT, the Dow Jones Industrial Average was up 0.35% at 43,603.18, while the S&P 500 was up 0.16% at 6,060.27 and the Nasdaq Composite came out of the gate 0.13% firmer at 20,135.24.

The Dow opened 153.28 points higher on Wednesday, taking a bite out of the losses recorded in the previous session.

Stocks opened higher on Tuesday as traders patiently awaited the outcome of the Federal Open Markets Committees two-day monetary policy meeting, where the Federal Bank was widely expected to cut its benchmark overnight interest rates by another 25 basis points. In addition to the Fed’s decision, Chairman Jerome Powell will also give a speech at 1900 GMT.

Elsewhere on the macro front, mortgage applications fell 0.70% in the week ended Dec. 13, according to Mortgage Bankers Association of Americacutting into the previous week’s 5.4% gain. Applications for mortgage refinancing fell 3%, while applications for home purchases rose 1%.

Still on data, U.S. building permits rose 6.1% in November to a seasonally adjusted rate of 1.50 million. the census bureauwhich erases October’s fall of 0.4% and far exceeds expectations for a print of 1.43 million. Housing starts, on the other hand, fell unexpectedly by 1.8% to 1.28 million. in November, the lowest value in four months and lack of expectations of an increase from 1.31 million. in October to 1.34 million

No major companies’ earnings were due to be announced on Wednesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones – Risers

Unitedhealth Group Inc. (UNH) $500.35 3.05%
The Walt Disney Co. (HAZE) $115.49 2.19%
Boeing Co. (BA) $175.76 1.58%
Dow Chemical Co. (DOW) $41.03 1.13%
Caterpillar Inc. (CAT) $379.11 0.88%
Visa Inc. (V) $320.57 0.71%
Nike Inc. (NCE) $78.50 0.64%
Goldman Sachs Group Inc. (GS) $577.30 0.46%
3M Co. (MMM) $128.50 0.35%
American Express Co. (AXP) $302.31 0.32%

Dow Jones – Fallers

Microsoft Corp. (MSFT) $450.21 -0.94%
Chevron Corp. (CVX) $146.90 -0.82%
Travelers Company Inc. (TRV) $241.72 -0.79%
Procter & Gamble Co. (PG) $169.41 -0.54%
Walgreens Boots Alliance, Inc. (WBA) $9.92 -0.50%
International Business Machines Corporation (CDI) (IBM) $227.84 -0.50%
Home Depot Inc. (HD) $406.77 -0.41%
Amgen Inc. (AMGN) $265.13 -0.31%
Intel Corp. (INTC) $20.39 -0.24%
Merck & Co. Inc. (MRK) $99.82 -0.24%

S&P 500 – Risers

CIGNA Corp. (CI) $281.23 5.89%
CVS Health Corp (CVS) $46.44 5.46%
Nvidia Corp. (NVDA) $134.99 3.53%
Expedia Group Inc. (EXP) $186.30 3.14%
Humana Inc. (HUM) $241.20 3.13%
CenturyLink Inc. (LUMN) $6.18 3.09%
Unitedhealth Group Inc. (UNH) $500.35 3.05%
Western Digital Corp. (WDC) $66.34 2.63%
eBay Inc. (EBAY) $65.86 2.54%
Target Corp. (TGT) $134.87 2.48%

S&P 500 – Fallers

General Mills Inc. (GIS) $64.03 -2.88%
Fluor Corp. (FLR) $52.12 -2.49%
Lamb Weston Holdings, Inc. (LW) $80.30 -2.45%
Emerson Electric Co. (EMR) $125.17 -2.27%
Kraft Heinz Co. (KHC) $30.56 USD -2.21%
Hershey Foods Corp. (HSY) $174.34 -1.85%
Electronic Arts Inc. (EA) $151.97 -1.82%
Hormel Foods Corp. (HRL) $31.57 -1.82%
Illumina Inc. (ILMN) $140.70 -1.69%
Newmont Corporation (NEM) $39.13 -1.67%

Nasdaq 100 – Risers

Nvidia Corp. (NVDA) $134.99 3.53%
Expedia Group Inc. (EXP) $186.30 3.14%
Asml Holdings NV (ASML) $755.42 2.75%
Western Digital Corp. (WDC) $66.34 2.63%
eBay Inc. (EBAY) $65.86 2.54%
Micron Technology Inc. (MU) $111.26 2.45%
Qurate Retail Inc. (QRTEA) $0.36 USD 2.18%
American Airlines Group (AAL) $17.08 2.12%
Applied Materials Inc. (AMAT) $173.48 1.84%
Microchip Technology Inc. (MCHP) $59.23 1.61%

Nasdaq 100 – Fallers

Kraft Heinz Co. (KHC) $30.56 USD -2.21%
Electronic Arts Inc. (EA) $151.97 -1.82%
Illumina Inc. (ILMN) $140.70 -1.69%
Trip.com Group Limited (TCOM) $73.53 -1.45%
Align Technology Inc. (ALGN) $225.55 -1.42%
Tesla Inc (TSLA) $473.33 -1.36%
Vodafone Group Plc ADS (VOD) $8.52 -1.33%
Broadcom Inc. (AVGO) $237.46 -1.15%
Intuit Inc. (INTU) $670.51 -1.07%
Liberty Global plc Series A (LBTYA) $12.32 -1.00%