U.S. markets swung higher Wednesday morning as investors anticipate the Federal Reserve will maintain an accommodating monetary policy.
The Fed's Open Market Committee concludes a two day meeting with a policy announcement scheduled for Wednesday afternoon.
Investors ignored uncertainly about the $13 billion international bailout offered to Cyprus. Lawmakers in Cyprus overwhelmingly rejected the plan to tax bank accounts, which was part of the deal worked out in Brussels.
In midmorning trading, the Dow Jones industrial average added 76.59 points or 0.53 percent to 14,532.41.
The Nasdaq gained 19.45 points or 0.6 percent to 3,248.54.
The Standard and Poor's 500 added 8.79 points or 0.57 percent to 1,557.13.
Ten-year U.S. treasury bonds fell 11/32 to yield 1.945 percent.
Against the dollar, the euro was at $1.2946 from Tuesday's $1.2883. Against the yen, the dollar was higher at 95.52 yen from 95.17 yen.
Most Popular Stories
- European Car Sales up First Time in 20 Months
- Entrepreneurs Chase Social Media
- Schedule packed with talent at the Fox
- Manila's Hollywood Week
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Austin musicians point to a variety of reasons to appreciate McCartney
- Financial Times Twitter, Email Hacked
- 'Star Trek Into Darkness': The Return of Khan?
- Apple's iPhones, iPads Approved for Military Use, Sir Yes Sir!
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]