US open: Stocks higher ahead of FOMC decision

Major indices were in the green early on Wednesday as market participants awaited the Federal Reserve's interest rate decision later in the session.

As of 1530 GMT, the Dow Jones Industrial Average was up 0.35% at 43,603.18, while the S&P 500 advanced 0.16% to 6,060.27 and the Nasdaq Composite came out the gate 0.13% firmer at 20,135.24.

The Dow opened 153.28 points higher on Wednesday, taking a bite out of losses recorded in the previous session.

Stocks opened higher on Tuesday as traders patiently awaited the outcome of the Federal Open Markets Committee's two-day monetary policy meeting, where the Federal Bank was widely expected to lower its benchmark overnight interest rates by a further 25 basis points. As well as the Fed's decision, chairman Jerome Powell will also deliver a speech at 1900 GMT.

Elsewhere on the macro front, mortgage applications fell 0.70% in the week ended 13 December, according to the Mortgage Bankers Association of America, cutting into the prior week's 5.4% surge. Applications to refinance a mortgage fell 3%, while applications to purchase a home rose 1%.

Still on data, US building permits surged 6.1% in November to a seasonally adjusted rate of 1.50m, according to the Census Bureau, erasing October's 0.4% decline and well and truly ahead of expectations for a print of 1.43m. Housing starts, on the other hand, unexpectedly fell 1.8% to 1.28m in November, the lowest reading in four months and missing expectations for an increase from 1.31m in October to 1.34m.

No major corporate earnings were slated for release on Wednesday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $500.35 3.05%
Walt Disney Co. (DIS) $115.49 2.19%
Boeing Co. (BA) $175.76 1.58%
Dow Chemical Co. (DOW) $41.03 1.13%
Caterpillar Inc. (CAT) $379.11 0.88%
Visa Inc. (V) $320.57 0.71%
Nike Inc. (NKE) $78.50 0.64%
Goldman Sachs Group Inc. (GS) $577.30 0.46%
3M Co. (MMM) $128.50 0.35%
American Express Co. (AXP) $302.31 0.32%

Dow Jones - Fallers

Microsoft Corp. (MSFT) $450.21 -0.94%
Chevron Corp. (CVX) $146.90 -0.82%
Travelers Company Inc. (TRV) $241.72 -0.79%
Procter & Gamble Co. (PG) $169.41 -0.54%
Walgreens Boots Alliance, Inc. (WBA) $9.92 -0.50%
International Business Machines Corporation (CDI) (IBM) $227.84 -0.50%
Home Depot Inc. (HD) $406.77 -0.41%
Amgen Inc. (AMGN) $265.13 -0.31%
Intel Corp. (INTC) $20.39 -0.24%
Merck & Co. Inc. (MRK) $99.82 -0.24%

S&P 500 - Risers

CIGNA Corp. (CI) $281.23 5.89%
CVS Health Corp (CVS) $46.44 5.46%
Nvidia Corp. (NVDA) $134.99 3.53%
Expedia Group Inc. (EXPE) $186.30 3.14%
Humana Inc. (HUM) $241.20 3.13%
CenturyLink Inc. (LUMN) $6.18 3.09%
Unitedhealth Group Inc. (UNH) $500.35 3.05%
Western Digital Corp. (WDC) $66.34 2.63%
eBay Inc. (EBAY) $65.86 2.54%
Target Corp. (TGT) $134.87 2.48%

S&P 500 - Fallers

General Mills Inc. (GIS) $64.03 -2.88%
Fluor Corp. (FLR) $52.12 -2.49%
Lamb Weston Holdings, Inc. (LW) $80.30 -2.45%
Emerson Electric Co. (EMR) $125.17 -2.27%
Kraft Heinz Co. (KHC) $30.56 -2.21%
Hershey Foods Corp. (HSY) $174.34 -1.85%
Electronic Arts Inc. (EA) $151.97 -1.82%
Hormel Foods Corp. (HRL) $31.57 -1.82%
Illumina Inc. (ILMN) $140.70 -1.69%
Newmont Corporation (NEM) $39.13 -1.67%

Nasdaq 100 - Risers

Nvidia Corp. (NVDA) $134.99 3.53%
Expedia Group Inc. (EXPE) $186.30 3.14%
Asml Holdings N.V. (ASML) $755.42 2.75%
Western Digital Corp. (WDC) $66.34 2.63%
eBay Inc. (EBAY) $65.86 2.54%
Micron Technology Inc. (MU) $111.26 2.45%
Qurate Retail Inc. (QRTEA) $0.36 2.18%
American Airlines Group (AAL) $17.08 2.12%
Applied Materials Inc. (AMAT) $173.48 1.84%
Microchip Technology Inc. (MCHP) $59.23 1.61%

Nasdaq 100 - Fallers

Kraft Heinz Co. (KHC) $30.56 -2.21%
Electronic Arts Inc. (EA) $151.97 -1.82%
Illumina Inc. (ILMN) $140.70 -1.69%
Trip.com Group Limited (TCOM) $73.53 -1.45%
Align Technology Inc. (ALGN) $225.55 -1.42%
Tesla Inc (TSLA) $473.33 -1.36%
Vodafone Group Plc ADS (VOD) $8.52 -1.33%
Broadcom Inc. (AVGO) $237.46 -1.15%
Intuit Inc. (INTU) $670.51 -1.07%
Liberty Global plc Series A (LBTYA) $12.32 -1.00%