US STOCKS-Energy stocks lead Wall St higher; investors await Fed news

miércoles 16 de septiembre de 2015 15:20 GYT
 

* August consumer price index falls unexpectedly

* Fed begins two-day meeting, statement due Thursday afternoon

* Oil prices jump 5.7 percent

* Indexes up: Dow 0.71 pct, S&P 0.75 pct, Nasdaq 0.44 pct (Updates to late afternoon, adds commentary)

By Sinead Carew

Sept 16 (Reuters) - Energy stocks lifted Wall Street on Wednesday following an almost 6-percent jump in oil prices, while investors braced for the Federal Reserve's decision on interest rates.

The Fed is due to announce a decision on Thursday afternoon to either end or extend seven years of near-zero interest rates, potentially relieving markets of months of uncertainty as investors have been trying to predict the timing for a hike.

The market's move up did not appear to be because of any real conviction about what the Fed will decide, said Tom Donino, co-head of trading at FNY Capital Management in New York.

"It's either shorts covering, because they don't want to be short tomorrow ahead of the Fed meeting, or it's people that want to be long getting long in front of the Fed," said Donino. "The market's going to be volatile tomorrow."   Continuación...