LONDON (ShareCast) - Wall Street opens cautiously higher ahead of the Federal Reserve's latest interest rate decision.

The Fed will announce its interest rate decision today and is expected to keep rates on hold, though traders will look for possible clues on any future increase.

Better than expected US durable goods data lifted spirits. Orders for US durable goods were flat in May, holding at a seasonally adjusted $213.64bn, beating expectations for another decline.

Across the markets, the Dow Jones is 24 points higher at 11,831 and the S&P 500 is 7 points firmer at 1,321. The NASDAQ Composite is 21 points higher at 2,390.

Mobile phone maker Jabil Circuit dialled all the right numbers in its third quarter results, which saw net income soar to $38.4m from $6.2m a year earlier. The company also lifted its fourth quarter profit guidance.

Dairy processor Dean Foods rises to the top of the S&P 500 constituents list after lifting second quarter profit guidance. Elsewhere in the foods sector, however, General Mills eases a little after its fourth quarter profit fell 17% on rising hedging costs.

In contrast, Rockwell Automation falls sharply. The factory automation specialist said slower than anticipated growth in the US and Europe means its full year earnings will be below expectations.

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