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    U.S. Stocks Advance Ahead of Fed Announcement


    by IBTimes


    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.