US Stock Market Opens Higher Ahead of Fed's Announcement

Investors were on the edge of their seats as the US stock market opened higher on Wednesday, eagerly awaiting the Federal Reserve's latest decision on interest rates. This anticipation comes on the heels of a reported 6.2% drop in US mortgage applications, a key indicator that has been closely monitored by investors for signs of the market's direction.

Significant Gains Across Major Indexes

The Dow Jones Industrial Average saw an increase of 0.25%, or 111 points, with The Boeing Company leading the charge with a 5.09% surge by 9:33 am ET. Similarly, the Nasdaq 100 gained 0.51%, or 100 points, as Tesla Inc. jumped by 3.68% at 9:34 am ET. The S&P 500 wasn't left behind, rising by 0.37%, with Boeing also being the top performer on this index.

Euro Takes a Hit Against the Dollar

In currency news, the euro experienced a 0.43% decline against the dollar, selling for $1.08973 by 9:28 am ET, signaling a shift in investor confidence and market dynamics.