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US stock market mixed as Fed meeting looms

US stock market mixed as Fed meeting looms
Indices retreat from records as investors brace for Fed's tapering decision

By Ovunc Kutlu

ANKARA (AA) - Major US indices opened mixed Tuesday, slightly lower than record highs as investors brace for the Federal Reserve's tapering decision on Wednesday.

The blue-chip Dow Jones rose 94 points, or 0.26%, to 35,913 after it hit an all-time high of 36,009.74 during the previous session.

The S&P 500 added 11, or 0.25%, to 4,624 after improving on its record high to reach 4,626.26 shortly after the first bell.

The Nasdaq increased 37 points, or 0.24%, to 15,633. The tech-heavy index also improved its all-time high to 15,637.68 points.

The yield on 10-year US Treasury notes was down 1.2% to 1.554%, while the VIX volatility index, known as the fear index, fell 2.1% to 16.06.

The US dollar index was up 0.11% to 93.98.

The price of international benchmark Brent crude was trading at $83.94, down 0.9%, while the US benchmark West Texas Intermediate fell 1% to $83.22.

Precious metals are on the decline, with gold losing 0.1% to $1,791 per ounce and silver falling 1.6% to $23.64.

Although the Fed opened the door in September to start tapering -- the process known as reducing its asset purchases -- its timing remains uncertain.

The central bank is expected to begin the process this month or could await until December to view another jobs report and additional inflation data.


source: News Feed
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