Stocks hold steady as the countdown ticks to a Federal Reserve decision on interest rates

U.S. stocks drifted higher Wednesday as investors counted down to the Federal Reserve’s interest-rate decision later in the day. By 9:35 a.m. Eastern, the S&P 500 rose 0.2% and moved within 1% of its all-time high set earlier this month. The Dow gained 31 points (0.1%) and the Nasdaq added 0.3%. Trading focus is on whether the Fed will signal its future path; Wall Street expects the federal funds rate to remain unchanged after a rate increase last month aimed at cooling inflation. Shares that beat profit expectations also supported the market, including GE Healthcare (+8%) and Etsy (+6.6%). AI-related stocks steadied after SK Hynix surged 10.9% in Seoul; Micron rose 5.2%, while Robinhood fell 3.2% and Boston Scientific dropped 11.1%.