Wall St Preparing FOMC Announcement Welcomed

Learn Forex : Most of the stocks on Wall Street traded higher on Wednesday as investors preparing to welcome the policy announcement from the Federal Open Market Committee (FOMC), which divert attention from concerns over Cyprus.

The Dow Jones Industrial Average shot more than 65 points for scoring a new record high, led by shares of Disney, and Pfizer. Strengthening is also seen in the S & P 500 and Nasdaq Composite, which each managed to collect 0.5% and 0.45% so far. All 10 key S & P sectors perched in the green zone, with the largest increase shown in the health sector and consumer needs.

After serving for 2 days meeting the U.S. Federal Reserve will announce its policy decisions and economic projections at midnight, to be followed by a press conference by Fed Chairman Ben Bernanke.

The U.S. central bank is expected to remain ultra-loose policy will continue to maintain their low interest rates and $ 85 billion program of buying assets per month, which according to some observers still will run until mid next year. However, it will not prevent investors keep looking for signs of QE3 from the Fed when the program will end.