Last updated: September 18. 2013 10:42AM - 182 Views
Associated Press



Trader Richard Newman, left, and specialist Peter King work on the floor of the New York Stock Exchange Monday, Sept. 16, 2013. U.S. stocks and bonds are rising sharply in early trading after former Treasury Secretary Larry Summers withdrew from the race to become head of the Federal Reserve. (AP Photo/Richard Drew)
Trader Richard Newman, left, and specialist Peter King work on the floor of the New York Stock Exchange Monday, Sept. 16, 2013. U.S. stocks and bonds are rising sharply in early trading after former Treasury Secretary Larry Summers withdrew from the race to become head of the Federal Reserve. (AP Photo/Richard Drew)
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(AP) Stocks are little changed in early trading as investors wait for an update from the Federal Reserve.


The Dow Jones industrial average was down 25 points, or 0.2 percent, at 15,504 after the first few minutes of trading Wednesday.


The Standard & Poor's 500 index was nearly unchanged at 1,704 points. The Nasdaq composite was up five points, or 0.1 percent, at 3,750.


The Fed is expected to announce a slowdown of its economic stimulus program after it winds up a two-day policy meeting later Wednesday.


FedEx rose $3.25 or 3 percent, to $113.93 after reporting earnings and revenue that beat analysts' estimates.


Adobe rose $3.54, or 7 percent, to $51.67 after announcing higher revenue than investors expected and a sharp increase in its subscription business.


Associated Press
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