U.S. stocks are drifting higher Wednesday as Wall Street waits to hear what the Federal Reserve will say in the afternoon.

U.S. stocks are drifting higher Wednesday as Wall Street waits to hear what the Federal Reserve will say in the afternoon about where interest rates may be heading. The S&P 500 was up 0.3% in early trading.

Virtually all of Wall Street is expecting the Fed to announce no change to its main interest rate this afternoon, as it waits to see how conditions play out. For the moment, the job market seems to be relatively solid overall after the economy closed last year running at a solid pace.