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US stocks rebound ahead of Fed decision

US stocks rebound ahead of Fed decision
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First Published: Wed, Nov 02 2011. 07 21 PM IST

New York Stock Exchange building in New York. Photo: Bloomberg
New York Stock Exchange building in New York. Photo: Bloomberg
Updated: Wed, Nov 02 2011. 07 21 PM IST
New York: US stocks rebounded early Wednesday, as investors awaited the conclusion of a two-day meeting of the US Federal Reserve’s policymaking panel.
New York Stock Exchange building in New York. Photo: Bloomberg
The blue-chip Dow Jones Industrial Average gained 150.99 points (1.30%) to 11,808.95 in the first 10 minutes of trade.
The tech-heavy Nasdaq Composite opened up 30.12 points (1.16%) to 2,637.08.
The S&P 500 stock index, a broader measure of the markets, gained 17.71 points (1.45%) to 1,235.99.
“The upside bias this morning has been pinned on speculation the Fed might announce a third quantitative easing plan at the conclusion of its FOMC meeting today, with a focus on buying mortgage-backed securities,” said analysts at Briefing.com.
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First Published: Wed, Nov 02 2011. 07 21 PM IST
More Topics: US Stocks | Markets | Dow Jones | S&P 500 | Nasdaq |