Stocks Rise Pre-Bell Ahead of Fed Policy Decision

07:14 AM EDT, 09/16/2026 (MT Newswires) -- The main US stock measures were trending higher in Wednesday's premarket activity as traders await a major policy decision by the Federal Reserve later in the day. The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up less than 0.1%, and the Nasdaq added 0.4% before the opening bell. The indexes closed Tuesday trading in the red for the second consecutive session. The Fed's monetary policy committee will announce its latest interest rate decision at 2 pm ET. Markets are currently pricing in a 93% probability that the Federal Open Market Committee will hike its benchmark lending rate by 25 basis points, according to the CME FedWatch tool. Fed Chair Kevin Warsh is expected to hold a press conference at 2:30 pm. The Fed will likely raise its benchmark interest rate but avoid signaling further hikes in its policy statement, Goldman Sachs said in a note. Last week, government data showed consumer inflation and producer prices hit three-month highs in August as energy costs rose. Treasury yields were mixed, with the two-year rate slipping 1 basis point to 4.65%, while the 10-year rate was up 0.4 basis points at 5%. Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by last month's reports on retail sales and import and export prices at 8:30 am. The housing market index for September is out at 10 am, followed by the weekly EIA domestic petroleum inventories report at 10:30 am. West Texas Intermediate crude oil declined 0.9% to $104.90 a barrel, while Brent decreased 0.3% to $108.42. Saudi Arabia reportedly said Wednesday that its air defense forces intercepted a Houthi-fired drone before it entered the airspace over Mecca, Islam's holiest city. Yemen's Iran-aligned Houthis rejected the Saudi statement, according to CNBC. Crude loadings at Saudi Arabia's Red Sea export terminal in Yanbu had been halted, Reuters reported Tuesday, citing shipping industry sources. Saudi Arabia -- which is the world's biggest oil exporting nation -- has notified European customers of its decision to cancel some crude cargoes scheduled for late-September delivery, according to the news agency. Separately, Libya halted operations at three oil fields, though the issue was not related to the US-Iran conflict, Reuters reported. "The East-West pipeline is expected to remain out of service for several weeks, and without a pickup in flows through the Strait of Hormuz, its closure will further exacerbate an already tight global supply situation," Saxo Bank said Tuesday in a report. Shares of Intel (INTC) advanced 5% before the open following a Reuters report that the chipmaker is in discussions with SK Hynix (SKHY) over a potential deal that could bring the South Korean company's memory-chip production to the US for the first time. A potential deal could include SK Hynix leasing part of Intel's planned Ohio facility or forming a joint venture, according to the report. "While the company is reviewing various measures, including establishing additional production bases, to strengthen the competitiveness of its memory business, no matters have been determined at this stage," a spokesperson for SK Hynix told MT Newswires in an emailed response. Trip.com's (TCOM) shares rose 4.7% as the Chinese travel operator reported its latest quarterly results. Homebuilder Lennar (LEN, LEN.B) is slated to release its latest financial results after the markets close. Gold increased 0.9% to $4,370 per troy ounce, while bitcoin dipped 0.2% to $75,810.