US stock market finishes higher as investors await results of Federal Reserve meeting

NEW YORK, N.Y. – The stock market is closing broadly higher as investors await the results of a key meeting by the Federal Reserve.

All 10 industry groups in the Standard & Poor’s 500 index rose Tuesday, led by health care, utilities and energy companies.

The Dow rose 100 points, or 0.6 per cent, to close at 17,131. The S&P 500 climbed 14 points, or 0.8 per cent, to 1,998. The Nasdaq rose 33 points, or 0.8 per cent, to 4,552.

Fed policy makers have started a two-day meeting, and many investors are wondering if the central bank will indicate that it is moving closer to raising its key interest rate because the economy keeps strengthening. The Fed has held the rate close to zero for more than five years.