U.S. Stocks Rise Ahead of Federal Reserve Statement; Microsoft Announces Share Buybacks

U.S. stocks rose Wednesday ahead of the release of the Federal Reserve's statement and press conference. The Federal Reserve isn't expected to announce a rate hike. Though investors are grappling with policy changes announced Wednesday from the Bank of Japan. While interest rates were left unchanged in negative territory, the central bank set a new 0% target for its 10-year government bond yields - a veiled signal that more stimulus is coming. Microsoft (MSFT) - Get Report shares were on the rise after announcing plans to purchase $40 billion worth of its own stock - that's 9% of its total shares. The technology giant also said it will raise its dividend to $0.39 a share each quarter - up from $0.36 a share. Adobe (ADBE) - Get Report shares gained 4% after reporting better-than-expected earnings on both the top and bottom lines. Revenue rose 20% year-over-year to $1.46 billion, beating estimates of $1.36 billion. TheStreet's Scott Gamm reports from Wall Street.