NEW YORK, July 27 — Wall Street stocks climbed early today ahead of a Federal Reserve decision on raising interest rates and following a stream of earnings reports that left investors sighing in relief.
“The takeaway for many apparently is that their results and/or guidance was better than feared,” said Briefing.com analyst Patrick O’Hare. About 15 minutes into the trading session, the Dow Jones Industrial Average was up 0.4 per cent at 31,895.04. The Fed is expected to announce another three-quarter-point increase in the benchmark borrowing rate when its two-day policy meeting concludes at 1800 GMT, its latest effort to rein in soaring inflation.
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