U.S. stock indices rose in a range-bound session on Wednesday as investors prepared for a Federal Reserve's interest rate decision.

The Dow Jones Industrial Average gained 140.10 points, or 0.8%, to 16,739.95 (29 out of its 30 components rose). The S&P 500 rose 17.22 points, or 0.9%, to 1,995.31. The Nasdaq Composite Index added 28.72 points, or 0.6%, to 4,889.24.

Energy companies led the gains amid higher oil prices.

Bureau of Labor Statistics reported on Wednesday that consumer prices declined slightly in August marking their first decline in January. Prices were generally dragged down by low energy costs. The consumer price index fell by 0.1% in August after a 0.1% rise in July. The core index rose by 0.1%. Economists expected the CPI to stay unchanged, while the gain in the core CPI was in line with forecasts.

This morning in Asia Hong Kong Hang Seng rose 0.77%, or 169.70 points, to 22,136.36. China Shanghai Composite Index gained 0.51%, or 16.04 point, to 3,168.31. The Nikkei added 1.20%, or 218.95 points, to 18,390.55.

Asian stock indices rose amid gains in U.S. equities and oil prices. Investors are also waiting for news from the Federal Reserve.

Japanese stocks rose despite weak trade data. The country's exports rose 3.1% in August on an annualized basis vs a 7.6% gain in the previous month and a 4.0% yearly increase expected by analysts. Imports fell by 3.1% y/y, exceeding expectations for a 2.2% decrease.

This led to a monthly deficit of 569.7 billion yen.