Stocks seek direction ahead of Fed report
Stocks are seeking direction at opening ahead of today's Fed report and after not-so-bad February housing data.
In the first 20 minutes of trading, the Dow is flat.
The broader S&P 500 is up nearly one-tenth of 1 percent and the tech-heavy Nasdaq is just above water.
The Fed is expected to release its statement later today and keep interest rates at historic lows. But investors and traders will read the statement closely for language that may indicate when the Fed will begin to raise rates.
Also this morning, the Commerce Department said that new housing starts fell 5.9 percent in February, a number that is not surprising given that month's heavy snows.
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March 16, 2010; 9:53 AM ET
Categories: The Ticker , Wall Street | Tags: Dow Jones, nasdaq, s&p 500
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Posted by: tossnokia | March 16, 2010 11:55 AM | Report abuse
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