Continued easing inflation in the United States has provided additional support for the stock market to surge higher ahead of the FOMC policy meeting.
The S&P 500 and Nasdaq continued to rise to close at 14-month highs in the previous session on expectations that the Federal Reserve (Fed) would not raise interest rates.
This follows the US consumer price index (CPI) reading which fell to a two-year low to 4.0% year-on-year in May from 4.9% in April.
During the New York session, the S&P 500 strengthened at 4,369.02 following a rise of 0.69%, while the Nasdaq Composite rose 0.79% to 14,900.85 and the Dow Jones Industrial to 34,212.13 after rising 0.43%.
While the US30 index retreated slightly at around 34,119 in the Asian session.
Investors are now turning their attention to the FOMC policy meeting early tomorrow morning and a follow-up statement from the Fed on the next direction of policy.
Meanwhile, Nvidia shares jumped 3.9%, helping it end the session with a market capitalization of more than $1 trillion after the introduction of a new AI chip by rival AMD failed to impress investors.
Also, Intel Corp gained 2.5% following reports the chipmaker is in talks with Softbank Group to become the lead investor in Arm's initial public offering (IPO).
