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US stocks: gains capped as FOMC looms

FXStreet (Mumbai) - US stocks edged higher, but gains are being capped as investors await the FOMC rate decision later in the afternoon.

At the time of writing, the Dow Jones Industrial Average (DJIA) was up 70 points. The S&P 500 had added 7 points, while the Nasdaq was largely unchanged.

Among stocks, Apple shares gained 1.5% as the tech company reported 31% jump in profit’s after Tuesday’s closing bell. The stock was up more than 2% in the early session, before trimming gains.

The investors are not expecting the Fed to move rates today, but are looking out possible cues regarding the timing of the lift-off.

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