Markets
US stocks rebound ahead of Fed statement
NEW YORK : US stocks rebounded early Wednesday, as investors awaited the conclusion of a two-day meeting of the Feder
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The blue-chip Dow Jones Industrial Average gained 150.99 points (1.30 percent) to 11,808.95 in the first 10 minutes of trade.
The tech-heavy Nasdaq Composite opened up 30.12 points (1.16 percent) to 2,637.08.
The S&P 500-stock index, a broader measure of the markets, gained 17.71 points (1.45 percent) to 1,235.99.
"The upside bias this morning has been pinned on speculation the Fed might announce a third quantitative easing plan at the conclusion of its FOMC meeting today, with a focus on buying mortgage-backed securities," said analysts at Briefing.com.
Copyright AFP (Agence France-Presse), 2011