S&P 500, Dow rise before Fed; tech stocks pull down Nasdaq

REUTERS: The S&P 500 and Dow Jones indexes rose on Wednesday on hopes that the Federal Reserve would continue to keep interest rates low for a prolonged period, while a slide in tech stocks dragged the Nasdaq lower.

The Fed will also be releasing its"dot plot" projection of interest rates, which is a chart of dots representing the anonymous, individual rate projections of Fed policymakers for the next few years. Wall Street's main indexes attempted a comeback from a tech-driven slump earlier in the month that saw the Nasdaq Composite index slip into correction territory in just three sessions.

Delivery firm FedEx Corp rose 6.1per cent after reporting a bigger-than-expected quarterly profit, helped in part by price hikes and lower fuel costs.

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