Wall Street rises ahead of Fed decision on interest rates
Wall Street rises ahead of Fed decision on interest rates
08:29, November 05, 2009 
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Wall Street rose moderately in early trading Wednesday as investors awaited the Federal Reserve's statement on interest rates and the economy.
The Federal Open Market Committee ends a two-day meeting Wednesday, with economists predicting the central bank will say it needs to keep borrowing costs low to sustain growth.
Stocks also held gains as data from ADP Employer Services showed companies in the U.S. cut an estimated 203,000 jobs in October. The drop compares with a revised 227,000 decline the prior month.
In other economic news, the ISM non-manufacturing index, due at10 a.m. EST, was expected to show that the services sector grew for a second straight month.
The Dow Jones rose 64.16 to 9,836.07. Broader indexes also went higher. The Standard & Poor's 500 index rose 7.77 to 1,053.18 and the Nasdaq climbed 9.80 to 2,067.12.
Source:Xinhua
The Federal Open Market Committee ends a two-day meeting Wednesday, with economists predicting the central bank will say it needs to keep borrowing costs low to sustain growth.
Stocks also held gains as data from ADP Employer Services showed companies in the U.S. cut an estimated 203,000 jobs in October. The drop compares with a revised 227,000 decline the prior month.
In other economic news, the ISM non-manufacturing index, due at10 a.m. EST, was expected to show that the services sector grew for a second straight month.
The Dow Jones rose 64.16 to 9,836.07. Broader indexes also went higher. The Standard & Poor's 500 index rose 7.77 to 1,053.18 and the Nasdaq climbed 9.80 to 2,067.12.
Source:Xinhua
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