U.S. Stocks Advance Ahead of Fed Announcement

Category: Markets / Finance / Dec 12, 2012 10:57AM EDT
Wall Street opened higher on Wednesday (December 12), after five straight days of gains, as investors anticipated the U.S. Federal Reserve will announce a fresh stimulus plan to support the economy at the end of a two-day monetary policy meeting. The Fed is expected to announce a new round of bond buying later on Wednesday to boost a fragile economic recovery threatened by political wrangling over the government's budget. The monetary policy committee's decision is expected around 12:30 p.m. ET. The Dow Jones industrial average gained 25.24 points, or 0.19 percent, to 13,273.68. The Standard & Poor's 500 Index added 3.72 points, or 0.26 percent, to 1,431.56. The Nasdaq Composite Index climbed 9.97 points, or 0.33 percent, to 3,032.27.