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Last updated: September 17. 2013 12:36PM - 234 Views
Associated Press



Specialist Frank Masiello works 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)
Specialist Frank Masiello works 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 edging higher in midday trading on Wall Street, putting the market on track for its third gain in a row.


The Dow Jones industrial average was up 42 points, or 0.3 percent, at 15,537 as of noon Eastern Tuesday.


The Standard & Poor's 500 index rose five points, or 0.3 percent, at 1,702. The S&P 500 is seven points below its record high reached on Aug. 2.


The Nasdaq composite rose 18 points, or 0.5 percent, at 3,736.


Trading was light as Federal Reserve policymakers gathered for a two-day meeting. Many expect the Fed to reduce its $85 billion monthly bond-buying program.


Microsoft rose 20 cents, or 0.6 percent, to $33 after announcing a 22 percent dividend increase and a $40 billion stock buyback program.


Associated Press
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