US stocks open higher before key Fed meeting

By Ovunc Kutlu

ANKARA (AA) - US stocks opened higher on Wednesday before the Federal Reserve's key meeting.

The blue-chip Dow was up 106 points, or 0.33% to 31,867 at 9.39 a.m. EDT. The S&P 500 rose 39 points, or 1%, to 3,960.

The tech-heavy Nasdaq increased 210 points, or 1.8%, to 11,773.

The Fed is widely expected to raise its benchmark interest rate by 75 basis points, however investors are also bracing for a 100 basis points of rate hike.

The VIX volatility index, also known as the fear index, fell 2.8% to 23.99. The 10-year US Treasury yield decreased 1% to 2.759%.

The dollar index was down 0.1% to 107.03. The euro was up 0.2% to $1.0137 against the dollar.

Precious metals were on the decline with gold losing 0.1% to $1,715 and silver falling 0.1% to $18.6.

Global oil benchmark Brent crude was at $100.42 per barrel for a 1% gain, while US benchmark West Texas Intermediate (WTI) was at $96 -- up 1%.