Wall Street steady before Fed; tech stocks under pressure

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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 ...

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-related stocks weighed on the Nasdaq.

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. At 11:33 a.m. ET the Dow Jones Industrial Average was up 219.71 points, or 0.78per cent, at 28,215.31, the S&P 500 was up 19.50 points, or 0.57per cent, at 3,420.70 and the Nasdaq Composite was up 26.60 points, or 0.24per cent, at 11,216.92.

Both stocks were among top performers on the Dow Jones Transports index, which rose 1.3per cent. The index is often seen as a barometer of economic health.

 

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