Stocks Ended Slightly Higher ahead of Fed Decision

U.S. stocks ended slightly higher on Tuesday, as investors were cautious ahead of the Federal Reserve’s policy decision. The Dow Jones Industrial Average fell 1.58 points, or 0.01%, to 25,320.73. The S&P 500 gained 4.85 points, or 0.17%, to 2,786.85. The Nasdaq Composite added 43.87 points, or 0.57%, to 7,703.79.

Oil saw mixed trading Tuesday, with U.S. prices finishing modestly higher for a second straight session, but global benchmark Brent crude ending lower. U.S. benchmark July West Texas Intermediate crude rose 26 cents, or 0.4%, to settle at $66.36 a barrel. August Brent crude lost 58 cents, or 0.8%, to $75.88 a barrel.

The Federal Reserve is expected to raise interest rates on Wednesday. Economists expect the central bank will lift the target range for its benchmark interest rate by another 25 basis points to a new corridor of 1.75%-2%.

Electric car maker Tesla Inc (TSLA) is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan.

About the Author

has written 11203 stories on this site.

Copyright © 2012 Nine Stocks