The Latest: Markets cautious ahead of Fed announcement

(AP) — The Latest on the Federal Reserve’s monetary policy meeting (all times local):

10:20 a.m.

Stocks were slightly higher in cautious trading on Wall Street ahead of what investors expect will be another interest rate increase from the Federal Reserve.

The Standard & Poor’s 500 index rose 5 points, or 0.2 percent, to 2,370 as of 10 a.m. Eastern time.

The Dow Jones industrial average gained 40 points, or 0.2 percent, to 20,877. The Nasdaq composite picked up 7 points, or 0.1 percent, to 5,863.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.58 percent from 2.60 percent.

Because an interest rate increase is widely expected, investors will be listening carefully for what Fed Chair Janet Yellen indicates about the Fed’s plans for future rate hikes.


6:00 a.m.

Trading in stock markets is cautious and the dollar is slightly weaker as investors look ahead to an expected interest rate increase by the Federal Reserve.

Because the increase is widely expected, a key point of focus will be Fed Chair Janet Yellen’s subsequent news conference, which investors will watch for hints on how quickly rates might be raised in the future.

Japan’s Nikkei 225 is down 0.2 percent Wednesday while Germany’s DAX is 0.1 percent higher. Futures for the Dow and S&P 500 are both up 0.2 percent.

The dollar, meanwhile, is down 0.1 percent against the Japanese yen, at 114.63 yen. The euro is 0.2 percent higher at $1.0628.