September 23, 2009

U.S. markets rise slightly

U.S. markets were slightly higher in advance of a U.S. Federal Reserve monetary policy decision scheduled Wednesday afternoon.

Few expect the Fed will change the zero to 0.25 percent bank-to-bank lending rates at this time. The Fed has signaled it will take a cautious approach backing away from extraordinary measures it took to keep financial systems solvent through the economic downturn.

In midmorning trading, the Dow Jones industrial average added 5.90 points, 0.06 percent, to 9,835.77. The Standard & Poor's 500 gained 0.08 percent, 0.83 points, to 1,072.49. The Nasdaq composite index rose 0.21 percent, 4.54 points, to 2,150.84.

The benchmark 10-year Treasury fell 4/32 to yield 3.458 percent.

The euro fell to $1.4779 from Tuesday's $1.48. Against the yen, the dollar rose to 91.37 yen from Tuesday's 91.20 yen.

The stock market in Japan was closed for a holiday.