U.S. stocks were higher Wednesday as investors await the Federal Reserve's latest policy decision.
The Dow Jones Industrials inched forward 3.93 points to 36,581.87.
The S&P 500 edged up 3.38 points to 4,647.08.
The NASDAQ fought its way up 2.89 points to 14,536.29.
Shares of Pfizer pulled back more than 9%, touching a 10-year low, after the company issued profit and revenue forecasts that were below Wall Street estimates. Tesla stock slipped roughly 3% following a recall of two million vehicles over regulator concerns tied to its Autopilot system.
The central bank is widely anticipated to hold the benchmark overnight borrowing rate steady in the 5.25% to 5.5% range, but investors will also parse through Fed Chair Jerome Powell's commentary for clues into how soon rate cuts can be expected. As it is, the CME FedWatch Tool shows markets are pricing in odds of rate cuts beginning next spring.
Investors are coming off a fourth straight positive session. Both the Dow and S&P 500 hit their highest intraday levels since January 2022. The NASDAQ Composite reached its highest level since April 2022.
Prices for the 10-year Treasury gained slightly, lowering yields to 4.15% from Tuesday's 4.21%. Treasury prices and yields move in opposite directions.
Oil prices recovered 91 cents to $69.52 U.S. a barrel.
Gold prices gathered four dollars to $1,996.30.
