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U.S. stocks open higher ahead of Fed statement

Xinhua, July 27, 2016 Adjust font size:

U.S. stocks opened higher Wednesday as Wall Street awaited the U.S. Federal Reserve's statement scheduled to be released in the afternoon.

Analysts believed that the U.S. central bank will keep its interest rates unchanged after the conclusion of its two-day policy meeting.

In corporate news, after Tuesday's closing bell, Apple Inc. reported its financial results for the third quarter ended June 25 in the fiscal year 2016.

The tech giant posted quarterly revenue of 42.4 billion U.S. dollars and quarterly net income of 7.8 billion dollars, or 1.42 dollars per diluted share. Its shares soared over 7 percent in early trading Wednesday.

Shares of Boeing jumped nearly 3 percent in early trading Wednesday after the aerospace firm reported a smaller-than-expected quarterly loss.

On the economic front, values of new orders for U.S. manufactured durable goods in June decreased 9.3 billion dollars or 4.0 percent to 219.8 billion dollars, which is worse than expected, the Commerce Department announced Wednesday.

Shortly after the opening bell, the Dow Jones Industrial Average rose 51.08 points, or 0.28 percent, to 18,524.83. The S&P 500 added 5.24 points, or 0.24 percent, to 2,174.42. The Nasdaq Composite Index gained 34.00 points, or 0.67 percent, to 5,144.05.

On Tuesday, U.S. stocks closed mixed, as investors digested a batch of quarterly earnings reports while expecting the result of the Fed's policy meeting. Endi