New Delhi, Oct. 29 -- US key indices rose to fresh record highs at the opening bell on Wednesday, October 29, ahead of the U.S. Federal Reserve's policy announcement later tonight.

The Nasdaq Composite climbed 1.1% to a new record high of 23,901. The S&P 500 gained 0.36% to 6,915, while the Dow Jones Industrial Average advanced 283 points, or 0.6%, to another peak of 48,023.

Markets widely expect the first rate cut of 2025, as policymakers are believed to be prioritizing concerns over a weakening labor market.

The U.S. Federal Reserve is widely expected to lower its key benchmark rate for the second time this year, following a cut in September. Analysts said the Fed is almost certain to reduce the benchmark federal funds rate to a rang...