Wall Street gains ground as markets await Fed's meeting

US stock indices advanced on Monday as markets await the important Federal Reserve’s policy meeting this week.

The Federal Reserve will start holding its two-day policy meeting tomorrow to discuss later inflation data which rose past estimates.

The Fed’s official policy statement, in addition to Fed Chair Jerome Powell’s press conference will offer important clues on the likely path ahead for US monetary policies. 

There’s a 99% chance the Fed will maintain interest rates unchanged according to the Fedwatch tool.

On trading, Dow Jones rose 0.4%, or 150 points to 38,864 as of 17:26 GMT, while S&P 500 rose 0.8%, or 43 points to 5160, while S&P 500 rose 1.1%, or 168 points to 16,141.