Stocks higher, oil extends surge, as Fed kicks-off key rate meeting

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The Street

By Martin Baccardax U.S. equity futures bumped higher Tuesday, while the dollar eased modestly against its global peers and oil prices extended their recent rally, as investors adopted a cautious stance on risk as the Federal Reserve kicks-off its two day policy meeting in Washington. Stocks closed modestly higher on Monday, although trading volumes were muted, as markets looked to an active week of central bank decisions, highlighted by the Fed statement Wednesday. Traders have effectively locked-in bets that the Fed will hold its benchmark lending rate steady at between 5.25% and 5.5% later …

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