Wall Street opens higher ahead of Fed

Stocks climbed on Wednesday as investors braced themselves for the Federal Reserve’s latest decision on monetary policy. 

The Dow Jones Industrial Average traded 81 points higher, or 0.3 percent. The S&P 500 climbed by  0.4 percent. The Nasdaq Composite edged up by 0.3 percent, CNBC reports.

The Federal Open Market Committee will provide its quarterly update on its estimates for GDP, unemployment and inflation. The central bank could provide clearer guidance on what it will take to raise rates in the future. The Fed is also expected to keep rates unchanged.