Wall Street climbs as oil prices slide, Fed in focus; Dow up 240 points

The S&P 500 was up 39.26 points, or 0.94%, at 4,212.37, and the Nasdaq Composite was up 148.51 points, or 1.18%, at 12,729.73

US stocks gained ground on Tuesday as oil prices extended declines, while investor focus was squarely on the Federal Reserve's two-day meeting where policymakers are widely expected to raise interest rates.

Nine of the 11 major S&P sectors advanced in early trading, with technology and consumer discretionary stocks climbing the most.

Microsoft Corp and Broadcom Inc gained 1.6% and 3.9%, respectively, providing the biggest boost to the S&P 500 and the Nasdaq.

Big banks, which tend to benefit from rising interest rates, rose. JPMorgan Chase & Co advanced 1.4%.

Delta Air Lines Inc and United Airlines jumped nearly 9% after