The three major indices of the U.S. stock market opened higher on the 7th (local time). Investors are focusing on the Federal Reserve's interest rate announcement.
The Dow Jones Industrial Average is currently recorded at 41,074.32, up 0.6% from the previous session. The Nasdaq is trading at 17,749.31, up 0.34%. The S&P 500 is at 5,630.48, up 0.42%.
The Federal Reserve is set to announce its interest rate decision soon after concluding the Federal Open Market Committee meeting. President Donald Trump has been pressuring for a rate cut, attacking Jerome Powell, the chair of the Federal Reserve, as a "loser" last month. However, investors believe there is a possibility that the Federal Reserve will keep the interest rate steady.
The U.S. and China will hold official negotiations regarding tariffs for the first time this week in Switzerland. Treasury Secretary Scott P. Ammerman and Chinese Vice Premier He Lifeng are expected to meet. It is anticipated that the Federal Reserve will start implementing a response after observing the impact of the Trump administration's tariff policy.