Market Snapshot: Stock market edges higher as investors anticipate Fed decision

U.S. stocks rose modestly on Wednesday, with investors looking ahead to the end of a two-day meeting by the Federal Reserve that is likely to deliver the third interest-rate hike since December 2015.

The Dow Jones Industrial Average DJIA, +0.25% rose 33 points, or 0.2%, to 20,870. The S&P 500 SPX, +0.29% gained 5 points to 2,371, a rise of 0.3%. The Nasdaq Composite Index COMP, +0.09% rose 11 points to 5,867, up 0.2%.

“Markets have been incredibly resilient, but they’re currently expecting three rate hikes this year, including one today. I don’t know how they’ll react if there’s a sense we’ll get four,” said Jeff Mortimer, director of investment strategy for BNY Mellon Wealth Management.

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