Aust stocks open higher

Local market lifts three-quarters of a per cent ahead of US Fed meeting.

The Australian stock market opened higher despite a subdued trade on Wall Street as investors waited for the outcome of a United States Federal Reserve policy meeting.

At the 1015 AEST official market open, the S&P/ASX 200 benchmark index was 0.79% higher at 5,086.9 points, while the broader All Ordinaries index also lifted 0.79% to 5,064.5 points.

The market was boosted on Tuesday by hints the Reserve Bank of Australia will cut the cash rate next week.

There's no local economic news expected on Wednesday.

In company news, Origin Energy and Paladin Energy will release quarterly activity reports.

On Tuesday, the benchmark S&P/ASX200 index added 0.9 points to 5,047.2 and the All Ordinaries index dropped 1.6 points to 5,026.3.

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