Stocks Edge Higher Ahead of Fed Decision Wednesday - East Idaho News
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Stocks Edge Higher Ahead of Fed Decision Wednesday

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Getty 091713 NYSE?  SQUARESPACE CACHEVERSION=1379455906253John Moore/Getty Images(NEW YORK) — The Dow Jones Industrial Average posted modest gains Tuesday as the Federal Reserve started its two-day policy meeting. The Dow finished up 35 points to close at 15,529.73. This is the third straight day of gains, and the industrials have now been up 11 of the past 14 trading days.
 
So far this month, the Dow is up nearly 5 percent and sits less than 1 percent from its all-time high hit on Aug. 2 of this year.
 
The Nasdaq Composite also ended the day higher. It closed at a 13-year high.
 
Investors will be keeping a close watch on the Federal Reserve Wednesday. The market expects the Fed will announce that it is going to start pulling back on its massive bond-buying stimulus program. The big question is how much Chairman Ben Bernanke is going to scale back. The Fed is currently stimulating the economy to the tune of $80-85 billion every month. The consensus on Wall Street is that the Fed will cut that amount by $10-15 billion.
 
After the decision, the chairman will meet the media for his quarterly news conference.

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