Wall St little changed ahead of Fed's policy meeting

Wall St little changed ahead of Fed's policy meeting

United States stocks edged up in early afternoon trading on Tuesday, helped largely by gains in telecom stocks, but traded in a narrow range as investors stayed away from making major bets ahead of the Federal Reserve's policy meeting. Tokyo's Nikkei .n225 surged 2 percent to its highest close in more than two years as investors drew confidence from a weakening yen and hopes of a snap election underpinned the market.In the US bond market, prices were near flat.

The Dow Jones Industrial Average rose 41.79 points, or 0.2%, at 22,412.59, buoyed by sharp gains in shares of McDonald's Corp.(MCD), and Pfizer Inc.(PFE). The Nasdaq Composite Index was down 1.70 points, or 0.03 percent, to 6,459.62.

Any reduction in the balance sheet could make it harder for banks and investors to borrow certain Treasuries in the repurchase agreement market, making it more difficult and expensive to bet on or protect against interest rate increases.

"It seems the market is holding its breath and waiting for what the Fed has to say regarding the economy and any future interest rate hikes", said Ryan Detrick, senior market strategist for LPL Financial. The Fed is widely expected to announce on Wednesday that it will begin paring its bond holdings, with reductions likely to start in the coming months.

Sprint, T-Mobile US reignite mega-merger talks (again)
Those same sources say a deal is not imminent, and talks have not progressed on exactly how much stock would be exchanged. It looks like T-Mobile Inc (NASDAQ: TMUS ) and Sprint Corp ( NYSE: S ) are on the brink of a merger or consolidation.

Several central-bank officials already wanted to start winding down the Fed's portfolio of government securities in July, but the majority wanted to hold until a later date.

About 5.8 billion shares changed hands on USA exchanges. Market expectations for a December rate hike rose to 58.3 per cent on Tuesday.

Investors will also see existing home sales for August released at around 10 a.m. ET.

On the other hand, gold stocks fell sharply following the Fed announcement, dragging the NYSE Arca Gold Bugs Index down by 1.9%.

Barcelona Record Signing Ousmane Dembele Out For Up to Four Months
He is expected to be out for between three-and-a-half months and four months". "Dembele will be operated on Tuesday by Dr. The French star is off to Finland to have the problem sorted.

Alnylam Pharmaceuticals ( ALNY ) is posting a substantial gain after the biopharmaceutical company reported positive trial results for its treatment of a rare genetic disease.

Apple shares declined 1.7% Wednesday morning after the tech company reportedly admitted issues ( with connectivity of its new Apple Watch Series 3.

On the economic front, USA privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000, beating market consensus, the Commerce Department reported on Tuesday.

In oil markets, Brent crude traded at around $55.38 a barrel on Tuesday morning, up 0.44 percent, while US crude was around $49.85 a barrel, up 0.77 percent.

Ex-foster duo questioned over London subway bomb
This is the dramatic moment a Syrian refugee was pinned to the wall and arrested by police over the Parsons Green terror attack . Suleman Sarwar, 43, who owns the chicken shop, said the 21-year-old suspect was arrested after he finished his shift.