Stocks Ended Slightly Higher as Fed Eyed

U.S. stocks closed slightly higher on Tuesday with financial stocks providing the biggest boost ahead of the conclusion of the Federal Reserve’s two-day policy meeting. The Dow Jones Industrial Average rose 39.45 points, or 0.18%, to 22,370.80. The S&P 500 gained 2.78 points, or 0.11%, to 2,506.65. The Nasdaq Composite added 6.68 points, or 0.10%, to 6,461.32.

Oil futures ended lower on Tuesday, as traders weighed prospects for the extension of OPEC-led production cuts and looked to upcoming weekly data on U.S. crude supplies and output. October West Texas Intermediate crude shed 43 cents, or 0.9%, to settle at $49.48 a barrel. November Brent crude lost 34 cents, or 0.6%, to$55.14 a barrel.

Ford Motor Co said on Tuesday it plans to idle five North American vehicle assembly plants for a total of 10 weeks to reduce inventories of slow-selling models.