At the opening bell, the Dow Jones Industrial Average rose 25.5 points, or 0.06%, to 40,768.88. The S&P 500 rose 69.2 points, or 1.27%, to 5,505.59, while the Nasdaq Composite rose 351.8 points, or 2.05%, to 17,499.231.
The Federal Reserve will announce its monetary policy decision later in the day, followed by Chair Jerome Powell’s press conference.
Among the chip stocks, Advanced Micro Devices climbed 7.5 per cent after reporting better quarterly profit and revenue, and Nvidia surged 7.8 per cent.
Microsoft stock fell 1.4 per cent despite reporting better than expected earnings for the second quarter.
DuPont stock rose 3.9 per cent after its earnings report.
In the bond market, the yield on the 10-year Treasury slipped to 4.10 per cent from 4.14 per cent late on Tuesday.
Gold prices strengthened on Wednesday on worries of escalation in Middle East war after the killing of a Hamas leader in Iran.
Spot gold was up 0.5 per cent at $2,420.00 per ounce, as of 1147 GMT. US gold futures were up 0.6 per cent to $2,418.10.
Spot silver was up 0.8 per cent at $28.62 per ounce.
Oil prices climbed around $2 on Wednesday, as the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East.
Brent crude futures were up $1.95, or 2.5 per cent, to $80.58 a barrel by 1331 GMT ahead of expiry on Wednesday. US West Texas Intermediate crude futures were up $2.23, or 3 per cent, to $76.96 a barrel.
