US stocks end higher ahead of interest rate move

Wall Street advanced sharply today as the Federal Reserve opened a two-day meeting expected to bring another interest rate cut to revitalise the US economy.

The Fed’s rate decision is clearly the market’s focus this week, and trading is marked by investors’ conjectures about policymakers’ thoughts on the weak economy and crunched financial industry. With an announcement not expected until tomorrow afternoon, the market in the meantime digested data on earnings, consumer spending and durable goods.