Wall Street edges higher ahead of the Fed’s decision as oil prices and bond yields ease

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Wall Street is edging higher as it waits to hear from the U.S. Federal Reserve. The S&P 500 rose 0.3 per cent Wednesday and was on track for just its second gain in the last eight days.

The Dow Jones Industrial Average added 61 points, and the Nasdaq composite gained 0.4 per cent.

Stocks got help from falling oil prices and an easing of pressure from the bond market. The price for a barrel of Brent crude fell one per cent.

The market’s main event is coming later in the day, when traders expect the Fed will announce the first hike to interest rates in three years.

By Chan Ho-him and Michelle Chapman