The Globe and Mail reports in its Wednesday edition that stock markets in Canada and the United States gained ground on Tuesday, as investors await interest rate decisions from the Bank of Canada and the Federal Reserve on Wednesday. A Canadian Press dispatch to The Globe quotes Anish Chopra at Portfolio Management saying, "Markets, they're up modestly, but it's more of a wait-and-see approach on what may come out of the two central banks." The Bank of Canada's key lending rate stands at 2.25 per cent after a hold in January, but the economic landscape has shifted since that decision. Economists widely expect the bank to maintain its current policy rate. For the Fed's decision, traders see virtually no chance of a cut. Cuts to interest rates by the Fed would give the economy and job market a boost, and U.S. President Donald Trump has angrily been calling for them. But reductions would also worsen inflation. The S&P/TSX Composite Index was up 52.44 points at 32,929.09. In New York, the Dow was up 46.85 points at 46,993.26 and Nasdaq was up 105.35 points at 22,479.53. Gains in equity markets came even as the war in the Middle East continued to drive oil prices higher, now at $95.53 (U.S.) per barrel, up $3.07 (U.S.).