Wall Street Climbs Ahead of Fed Announcement Led by Big Tech

NEW YORK (AP) — Stocks are rising on Wall Street Wednesday ahead of a Federal Reserve announcement where investors expect the central bank to keep the accelerator floored on its aid for the economy.

The S&P 500 was 0.9% higher in early afternoon trading, while Treasury yields were holding steady and gold touched another record high.

Chipmaker Advanced Micro Devices jumped 12.5% for one of the market's biggest gains after it reported stronger profit growth for the spring than Wall Street expected and raised its sales forecast for the year.

It helped tech stocks continue to lead the market. Stocks overseas were mixed.