Wall Street inched marginally higher during Wednesday morning trading in New York, with traders remaining on edge ahead of the eagerly anticipated Federal Reserve meeting scheduled for 2 p.m. ET, followed by Fed Chair Jerome Powell‘s press conference at 2:30 p.m. ET.
The Fed is widely expected to reduce interest rates by 25 basis points to a target range of 4.25%-4.50%. Yet, the market’s reaction is likely to hinge on the updated economic projections and Powell’s commentary on future policy direction.
The semiconductor sector rebounded strongly, with the iShares Semiconductor ETF (NASDAQ:SOXX) climbing 0.9% after a 1.6% dip on Tuesday. Nvidia Corp. (NASDAQ:NVDA) surged 3.6%, on track to mark its best single-day gain in a month and to …
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