Federal Open Market Committee and Nasdaq Composite Index

Dow Jones Industrial Average: The S&P 500 gained 26.55 points, or 1.41 percent, to 1,903.63, according to Xinhua China. The Nasdaq Composite Index added 49.18 points, or 1.09 percent, to 4,567.67. The Dow Jones Industrial Average jumped 282.01 points, or 1.78 percent, to 16,167.23. The Federal Open Market Committee began its monetary policy meeting on Tuesday and will release a statement on Wednesday afternoon. However, investors will look into the statement for further clues on the economic environment and the future path of tightening. Analysts predicted that the Fed won't take any rate action at this meeting amid oil weakness. (news.financializer.com). As reported in the news.