US stocks mixed as market awaits Fed policy statement

GMT 15:22 2014 Wednesday ,29 October

Arab Today, arab today US stocks mixed as market awaits Fed policy statement

New York Stock Exchange
New York - AFP

US stocks were mixed in opening trade Wednesday ahead of a Federal Reserve policy statement that is expected to announce the end of the central bank's asset-purchases program.
Five minutes into trade, the Dow Jones Industrial Average stood at 17,033.55, up 27.80 points (0.16 percent).
The broad-based S&P 500 edged up 0.93 (0.05 percent) to 1,985.98, while the tech-rich Nasdaq Composite Index dropped 12.25 (0.27 percent) to 4,552.04.
The Federal Open Market Committee, in a statement after a two-day monetary policy meeting, is expected to declare the end of a six-year-old quantitative easing program, which last December stood at $85 million a month in asset purchases and has been progressively trimmed. The FOMC statement is due at 1800 GMT.
Investors are watching to see if the Fed gives any fresh signals on interest rates. The Fed has repeatedly said that the first rate increase in its federal funds rate would come "a considerable time" after quantitative easing ends.

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