Wall Street grows for the third day in a row

Wall Street grows for the third day in a row

Wall Street grows for the third day in a row

Investing.com – US equities opened higher on Wednesday for a third straight day, despite slowing retail sales and ahead of the Fed's rate decision.

By 09:33 AM ET (13:33 GMT), the Dow Jones Industrial Average was up 88 points, or 0.32%, the S&P 500 was up 0.4% and the NASDAQ Composite was up 0.33%.

The Federal Reserve will conclude its regular two-day monetary policy meeting with the release of a follow-up statement at 2:00 pm ET (6:00 pm GMT), followed by a press conference by Chairman Jerome Powell. No change in its policy is expected, but the Fed will update its economic forecasts, including the forecast until 2023.

US retail sales rose less-than-forecast in August, just 0.6% after revised downward growth of 0.9% in the prior month. Growth for August is expected to be 1%.

Investors are raging over Snowflake's largest IPO in a year. Meanwhile, Facebook is facing a possible lawsuit by the Federal Trade Commission (FTC) and a boycott of Kim Kardashian West.

Oil prices are recovering after a significant drop in US oil inventories.

And FedEx shares rose 5.6% after reporting on Tuesday the company's highest quarterly earnings ever.

By Christiane Chiudon

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