Stocks Opened Slightly High ahead of Fed Meeting

U.S. stocks opened slightly higher on Monday as investors look ahead to a coming meeting by the Federal Reserve. The Dow Jones Industrial Average lately rose 2.30 points, or 0.01%, to 24,331.46. The S&P 500 gained 1.25 points, or 0.05%, to 2,652.75. The Nasdaq Composite added 9.26 points, or 0.14%, to 6,849.34.

Oil prices fell Monday though traded mixed initially, after drilling activity increased for a third consecutive week. January West Texas Intermediate crude slipped 25 cents, or 0.4% at $57.12 a barrel. February Brent crude fell 9 cents, or 0.1%, to $63.31 a barrel.

Markets are awaiting a key meeting of the Federal Reserve on Wednesday, where a hike of benchmark interest rates is expected. The Federal Reserve is going to raise the cost of borrowing this week in a move widely anticipated by the money changers on Wall Street.

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