“The Dow Jones industrial Average was about 100 points below its all-time intraday high, with Apple and Boeing contributing the most to gains,” Cheng reports. “The Federal Open Market Committee is scheduled to conclude its two-day meeting with a statement at 2 p.m. ET. The Fed is not expected to raise rates, but the statement will be scrutinized for indications on the timing of the next rate hike.”
“The U.S. dollar index was mildly higher, with the euro near $1.10 and the yen weaker versus the greenback near 105.6 yen,” Cheng reports. “Overnight, Japanese Prime Minister Shinzo Abe said his government would compile a stimulus package of more than $265 billion to reflate the flagging economy.”
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