U.S. Stocks Open Higher as Federal Reserve Prepares to Issue Rate Decision

U.S. stocks rallied at Wednesday's open as investors await the Federal Reserve decision on interest rates. It is widely expected the Central Bank will raise interest rates and Wall Street will parse the accompanying statement about its outlook for the economy along with the decision. Housing stars surged in November, up 10.5%. Multi-family units led the increase with a gain of 18%. Building permits also jumped by 11% an indication that building and construction will be healthy into the spring. A Congressional Committee reached an agreement on taxes and spending that includes the export of U.S. oil for the first time in 40 years. The deal, which still has to be approved by both parties, does include tax credits for solar and wind energy.