US stocks rise as investors await Fed decision

2020-07-29 14:55:31 GMT (

The major US stock benchmarks rose on Wednesday, as investors await the Federal Reserve to reveal its interest rate decision later today.


The Federal Reserve will reveal the latest economic developments amid the coronavirus crisis and it's projections, in addition to a press conference by Chairman Jerome Powell. 


More companies continued to report their business results for the second quarter, and several tech giants, such as Facebook, Apple, Amazon and Alphabet will report their results later this week.


This comes as the CEOs of these major tech firms will appear together before the US Congress t on accusations of monopoly and privacy violations.


As for stocks, Dow Jones rose 0.2% or 50 points to 26,421 as of 14:31 GMT, Nasdaq rose 1% or 105 points to 10,507, and S&P 500 added 0.7% or 22 points to 3,240.

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