US opens higher ahead of Fed's interest rate decision

Wednesday, 04. May 2022 15:30

Shares on the major stock market indexes in the United States started the session in the green on Wednesday with all eyes on the Federal Reserve's monetary policy decision announcement, expected later during the day. Apart from the expected 50-basis-points interest rate hike, the traders will look for hints on Fed's future steps during Chair Jerome Powell's press conference.

On the business front, CVS Health Corporation and Moderna Inc. came out with upbeat earnings reports, while Uber Technologies Inc. sank in the premarket after it said that its net loss rose to $5.9 billion in the opening quarter.

The Dow Jones Industrial Average added 0.22% as the session started with Chevron jumping 1.61%. The S&P 500 was 0.18% higher at the same time as Starbucks flew 7.52% a minute later. The Nasdaq 100 opened the session up by 0.15% with Advanced Micro Devices soaring 6.47%.

The euro rose 0.3% versus the dollar at 9:29 am ET, selling for 1.05526.

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