How major US stock indexes fared Tuesday

The Associated Press

Stocks closed modestly higher on Wall Street Tuesday as investors await Wednesday’s decision by the Federal Reserve on interest rates. The S&P 500, the Dow Jones Industrial Average and the Nasdaq all rose. The Fed is expected to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high. Banks and other financial stocks helped lift the market. Energy stocks gained ground following solid earnings reports from BP and Devon Energy.