Business News - U.S. markets edge up as Fed meets

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U.S. markets edge up as Fed meets

NEW YORK (UPI) -- U.S. markets headed higher Wednesday in advance of a critical Federal Reserve policy decision to be announced in the afternoon.

The Fed's Open Market Committee will announce policy decisions after a two-day meeting. Investors are typically cautious before an announcement, this one coming with lending rates at historic lows and a tentative recovery underway.

In early afternoon trading, the Dow Jones industrial average added 119.48 points, 1.22 percent, to 9,891.39. The Standard & Poor's 500 gained 0.95 percent, 9.96 points, to 1,055.37. The Nasdaq composite rose 0.65 percent, 13.45, to 2,070.33.

The benchmark 10-year U.S. Treasury fell 10/32 to yield 3.507 percent.

The euro rose to $1.4836 from Tuesday's $1.4712. Against the yen, the dollar rose to 90.93 yen from Tuesday's 90.34 yen.

In Japan, the Nikkei 225 index added 22.66, 0.42 percent, to 9,844.31.

In Britain, the FTSE 100 index gained 1.4 percent, 70.68, to 5,107.89.

Copyright 2009 by United Press International

This news arrived on: 11/04/2009

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