(CNBC) — U.S. stocks climbed on Tuesday as the Federal Reserve started a two-day monetary policy meeting, with most market participants expecting a rate hike.
The Dow Jones industrial average rose 109 points, with Boeing as the best-performing stock. The S&P 500 gained 0.1 percent, with energy leading the gains. The Nasdaq composite advanced 0.2 percent.
Market expectations for a March rate hike are 94.4 percent as of Tuesday afternoon, according to the CME Group's FedWatch tool. While most market participants expect the Fed to raise rates by 25 basis points, they will also look for clues about whether the central bank will stay on track to hike three times this year or if it expects to further tighten policy.
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