Stocks opened higher Wednesday as investors awaited the outcome of a Federal Reserve meeting that's expected to set the stage for rate increases later this year. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.75% was up 236 points, or 0.7%, at 34,534, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.58% rose 1.2% to 4,409. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.26% gained 2.1% to 13,824. The Fed isn't expected to take action Wednesday, but is seen signaling a rate increase in March. Investors will be looking for clues to the speed and scope of rate increases and other measures this year. Stocks have fallen in volatile trading this month tied in large part to expectations around the Fed.