US stocks rise as investors await conclusion of Fed policy meeting

The Federal Reserve is expected to conclude its two-day policy meeting later today.

The S&P 500 rebounded after closing lower in the previous session and finishing in the red for five days in a row. The tech-focused Nasdaq 100 and the Dow Jones Industrial Average both gained as shares of Microsoft climbed after an upbeat earnings report.

The US indexes stood at 9:30 a.m. The hours are open on Wednesday.

The central bank's decision is due at 2 p.m. The Fed Chair will be briefed at 2:30 p.m. Many are not expecting the Fed to make immediate changes, but will look for clues on when the central bank will hike interest rates.

Brian Rauscher, head of global portfolio of strategy and asset allocation at Fundstrat, told Insider that he doesn't think they will try to be overly hawkish. It may get sloppy again.

There was a lot of uncertainty about the Fed's determination to tame a nearly 40-year high in inflation. The central bank has a balance sheet of nearly $9 trillion.

There is a cascade of earnings reports from mega-cap companies due this week. After the closing bell, Apple will post results. Roughly 15% of S&P 500 companies have reported their results.

Outside the US, investors are keeping an eye on the situation in Russia and Ukraine, which is affecting different commodities. US President Joe Biden said he would consider personally sanctioning Russian President Putin if he ordered an invasion of Ukraine.

The price of West Texas Intermediate crude oil rose as much as 1.41%. The price of oil jumped as much as 1.51% to $89.53 per barrel.

The price of gold was $1,841.77 per ounce.

The 10-year Treasury yield fell to 1.778%. Bond yields move with prices.