10/29/2013 10:51 AM
Stocks edge higher as Fed meeting begins
NEW YORK (AP) — Stocks are higher as the Federal Reserve begins a two-day meeting where policymakers are expected to extend an aggressive economic stimulus program.
The Fed opens its meeting in the wake of a 16-day partial government shutdown that made it all but certain the central bank will continue its bond buying program.
The Dow Jones industrial average rose 54 points, or 0.4 percent, to 15,621 shortly before noon Tuesday.
The Standard & Poor's 500 index climbed four points, 0.3 percent, to 1,766.
The Nasdaq composite slipped two points, 0.1 percent, to 3,937.
Masco rose 78 cents, or 3.7 percent, to $21.70 after the maker of cabinets, plumbing fixtures and other building products said late Monday that new home construction helped push its income higher.
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