U.S. stock-market indexes were trading higher on Wednesday, driven by gains in energy and materials shares following a jump in oil prices.
The modest gains come as the market is awaiting the Federal Reserve’s sixth interest-rate increase since the end of 2015, and the central bank’s economic forecast could give investors clues to the pace of future increases.
The S&P 500 was up by 12 points, or 0.5%, to 2,729, with six of the 11 main sectors trading higher. Energy shares were leading gains, trading up more than 2.6%, as oil futures hit the highest levels in seven weeks. Consumer-staples shares were the worst performers, down about 1%.
The Dow Jones Industrial Average was 135 points higher at 24,852, or 0.5%. The Nasdaq Composite Index advanced 27 points, or 0.4%, to 7,390.
The cautious trade on Wednesday comes after stocks closed with gains on Tuesday.