US stocks open higher before Fed statement
Source: AP-Excite
By STEVE ROTHWELL and PAN PYLAS
NEW YORK (AP) — U.S. stocks opened higher Wednesday after a string of losses. Energy stocks led the gains despite the ongoing slump in oil prices.
KEEPING SCORE: The Standard & Poor's 500 index rose 12 points, or 0.7 percent, to 1,987 as of 10:01 a.m. Eastern. The Dow Jones industrial average gained 114 points, or 0.7 percent, to 17,183. The Nasdaq composite climbed 25 points, or 0.6 percent, to 4,572.
FED MEETING: Investors will be assessing the statement from the Federal Reserve's final policy meeting of the year on Wednesday and will be looking to see if U.S. policymakers drop a pledge to keep interest rates low for a "considerable time," as the U.S. economy improves. The Fed will release a statement at 2 p.m. Eastern time and will hold a press conference at 2:30 p.m.
RUSSIA FOCUS: Russia remained in focus on concerns about the impact of the recent slide in the ruble. The currency has lost more than 50 percent of its value this year. After posting fresh losses early Wednesday, the ruble recovered and was 11 percent higher at 61 rubles to the dollar.
FULL story at link.
The facade of the New York Stock Exchange, Thursday, Oct. 2, 2014. Global stocks were mostly lower Wednesday Dec. 17, 2014 as oil prices tumbled again while investors waited for a U.S. Federal Reserve statement on monetary policy. (AP Photo/Richard Drew)
Read more: http://apnews.excite.com/article/20141217/financial_markets-4680d04e07.html
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Last edited Wed Dec 17, 2014, 01:28 PM - Edit history (2)
I may take a day off from dumpster diving just to celebrate!
On a side note, opening up 10 million Cubans to US businesses will definitely be a boost to both economies but we could also hear that sucking sound as US jobs go to Cuba.
