The Dow Jones industrial average was up 51.01 points, or 0.52 percent, to end unofficially at 9,829.87. The Standard & Poor’s 500 Index .SPX gained 7.00 points, or 0.66 percent, to finish unofficially at 1,071.66. The Nasdaq Composite Index rose 8.26 points, or 0.39 percent, to close unofficially at 2,146.30. U.S. stocks rose on Tuesday, as investors bet the U.S. Federal Reserve will stick to its accommodative policy to foster economic recovery, boosting growth-sensitive sectors such as financials, technology and industrials. European stock index futures pointed to a mixed start for equities on Wednesday ahead of the U.S. Federal Reserve’s rate decision.

China’s president President Hu Jintao promised a “notable” reduction in the growth of carbon dioxide emissions. Russian first deputy Prime Minister Igor Shuvalov said Russia aims to finish negotiating its entry into the World Trade organization next year. Today the EC will publish its blueprint for a revamp of European financial supervision, which is planned to create four new agencies tasked with monitoring economic risks across the 27-nation European Union. Singapore’s sovereign wealth fund GIC has sold half of the nine per cent stake in Citigroup it acquired amid the banking crisis.

Due for release today there is EUR German Purchasing Manager Index, EUR Euro-Zone Purchasing Manager Index Manufacturing, GBP Bank of England Meeting Minutes, GBP BBA Loans for House Purchase, EUR Euro-Zone Industrial New Orders, NZD Westpac NZ Consumer Confidence, JPY Merchandise Trade Balance Total, JPY Adjusted Merchandise Trade Balance.

By Greg Secker