Wall Street drifts higher ahead of Fed announcement

NEW YORK (AP) — Stocks are rising in early trading on Wall Street Wednesday ahead of a Federal Reserve announcement where investors expect the central bank to keep the accelerator floored on its aid for the economy. The S&P 500 was 0.4% higher after the first 20 minutes of trading while Treasury yields were holding relatively steady and gold inched further into record territory. Chip maker Advanced Micro Devices jumped nearly 13% for one of the market’s biggest gains after reporting results that topped Wall Street’s forecasts and raising its sales forecast for the year. Stock markets overseas were mixed. 

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