Stock market slips ahead of Fed announcement

June 24th, 2015 10:46 am

First Posted: 10/30/2013

(AP) Stock indexes are slipping in midday trading on Wall Street as investors wait for the latest news from the Federal Reserve.

The Dow Jones industrial average and the Standard & Poor's 500 index edged below the record levels they set the day before.

The Dow was down 28 points, or 0.2 percent, at 15,653 as of noon Eastern time Wednesday.

The S&P 500 was down four points, or 0.2 percent, at 1,767. The Nasdaq composite was down 12 points, or 0.3 percent, at 3,939.

The Federal Reserve releases a policy statement later Wednesday following a two-day meeting. Economists expect the Fed to maintain its $85 billion in monthly bond purchases to support the economy.

Hess, Western Union and Aflac fell after reporting lower earnings.

Associated Press