Today, stocks surged higher as the Federal Reserve began their two-day policy meeting. The Dow Jones Industrial Average erased earlier losses to increase more than 200 points, while the S&P 500 and Nasdaq Composite both gained more than 1%.

Tech stocks were the best performers, with the Nasdaq jumping 3% after Alphabet, Apple, and Amazon reported earnings. Meta, a tech company, led the rally and was up more than 8%.

The Federal Reserve is expected to raise interest rates by a quarter point today, which could be the first of several rate hikes for the year.

The markets are also hoping that the Fed will provide clarity on their plans for the future. Investors will be closely watching the Fed’s statement, which is expected to be released later today.

Overall, the stock market is off to a strong start this week, and investors are hopeful that the momentum will continue.