U.S. stocks posted strong gains ahead of a Federal Reserve announcement that is expected to provide more clarity on coming interest-rate increases—the prospect of which has spooked markets this year.
The S&P 500 added 1.1% in morning trading Wednesday. The broad index fell Tuesday and has declined in five of the past six trading days. The tech-focused Nasdaq Composite Index rose 1.8%, while the Dow Jones Industrial Average gained 0.5%, or 170 points.