01:59 PM EDT, 03/19/2025 (MT Newswires) -- US stocks rose intraday Wednesday ahead of the Federal Reserve's monetary policy decision and a press briefing from Chair Jerome Powell that's expected to shed light on the central bank's view on the economic trajectory.

The Nasdaq Composite climbed 0.6% to 17,611.1 while the S&P 500 increased 0.4% to 5,637.7. The Dow Jones Industrial Average was up 0.3% at 41,700.3. Energy and technology led the sector gainers, while health care headed the laggards.

The Fed is scheduled to announce how the committee voted on interest rates following its two-day meeting at 2 pm ET, while Powell's expected to address the media at 2:30 pm.

The market widely expects the Federal Open Market Committee to hold its benchmark lending rate steady in the 4.25% to 4.5% target range, according to the CME FedWatch tool.

"The focus will be on comments from policymakers related to the impact on economic growth following US President Donald Trump's latest trade and immigration policies," a note from D.A. Davidson said.

An expected rebound in merger and acquisition activity this year will be either delayed or cancelled amid heightened uncertainties around tariffs and the fiscal cleanse targeted at the federal government, Oppenheimer said Wednesday. The brokerage downgraded Goldman Sachs ( GS ) , Jefferies Financial Group ( JEF ) and Carlyle Group ( CG ) .

US Treasury yields rose intraday, with the two-year rate up 4.4 basis points at 4.09% and the 10-year yield rising 3.5 basis points to 4.32%.

In economic news, mortgage rate applications in the US dropped last week as lending rates increased for the first time in nine weeks, the Mortgage Bankers Association said Wednesday.

In company news, General Mills' ( GIS ) stock fell 2.3% in afternoon trade after the Cheerios maker lowered its full-year outlook and reported fiscal third-quarter revenue below expectations amid inventory headwinds and a slowdown in US snacking.

Boeing's ( BA ) stock rallied more than 5% and was the top performer on the S&P 500 and the Dow after Chief Financial Officer Brian West said first-quarter cash burn is expected to be smaller than previously projected, according to a FactSet transcript of his comments made at a conference.

Intel ( INTC ) was the worst performer on the S&P 500, dropping 7%.

Ollie's Bargain Outlet (OLLI) expects fiscal 2025 results to increase on an annual basis as the ongoing economic uncertainty could bode well for the discount retailer. Its shares rose nearly 10%.

Signet Jewelers ( SIG ) , whose shares were up 17%, announced a strategy to simplify its brand portfolio and accelerate growth.

West Texas Intermediate crude edged up 0.6% to $67.28 per barrel by afternoon.

Commercial crude stockpiles in the US increased more than projected last week even as motor gasoline and distillate fuel inventories posted draws, government data showed Wednesday.

Gold was virtually flat at $3,041.8 per troy ounce, while silver fell 1.8% to $34.21 per ounce.