Ahead of the much anticipated interest rate decision scheduled for later on Wednesday, US features remained steady, as Asian shares rose by more than 1% in most major markets.
Stocks climbed in China, Japan and Australia, along with contracts for the region-wide Euro Stoxx 50, as concerns over global financial stability eased.
The Shanghai Composite Index gained 0.2% to 3,240.61 and the Hang Seng in Hong Kong advanced 0.4% to 19,075.79.
The Kospi in Seoul rose 0.4% to 2,389.19 and Sydney’s S&P-ASX 200 surged 1.2% to 6,979.00.
Strength in energy stocks as well as the financial and technology sectors helped Canada’s main stock index gain more than 150 points in late-morning trading, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 168.22 points at 19,687.65.
In New York, the Dow Jones industrial average was up 244.21 points at 32,488.79.
The S&P 500 index was up 35.17 points at 3,986.74, while the Nasdaq composite was up 97.14 points at 11,772.68.
The Canadian dollar traded for US$72.93, compared with US$73.13 on Monday.
Also, the May crude contract was up 66 cents at US$68.48 per barrel and the April natural gas contract was down six cents at US$2.16 per mmBTU.
The April gold contract was down US$28.00 at US$1,954.80 an ounce and the May copper contract was up three cents at US$3.99 a pound
The decline for US yields came after a surge on Tuesday that added 19 basis points to the two-year yield and 12 basis points to the 10-year benchmark.
Traders placed greater odds that the Fed will raise interest rates 25 basis points after market pricing was split between a hike and a pause earlier in the week.
