Stock Market Update

[BRIEFING.COM] The stock market opened higher after two days of losses. The market is enthused by news that representatives from the U.S. and China will meet to discuss the trade situation in Switzerland on May 8.

The S&P 500 trades 0.4% higher than yesterday, the Nasdaq Composite shows a 0.3% increase, and the Dow Jones Industrial Average trades 0.6% higher.

Upside moves are relatively limited as investors wait on today's FOMC announcement. The market largely expects the committee to hold the target range for the fed funds rate steady at 4.25-4.5%. Participants will be keenly focused on any indications about how tariffs, growth, and inflation will impact future rate decisions. 

The 2-yr note yield is up two basis points to 3.81%, and the 10-yr note yield is up one basis point to 4.32%.