This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Finish Higher Ahead of Fed Decision

Stocks in this article: ^DJI ^GSPC ^IXIC AAPL FB F XRTX ONCY

NEW YORK ( TheStreet) -- U.S. stocks finished in positive territory Wednesday as investors mostly stood pat as the Federal Reserve kicked off a two-day policy meeting widely anticipated to yield another round of quantitative easing.

The big events of the day -- Apple's (AAPL) launch of the iPhone 5 and a German court ruling supporting the country's participation in eurozone bailout efforts -- both went according to expectations.

The Dow Jones Industrial Average closed up 10 points, or 0.07%, at 13,333. The blue-chip index, which grabbed scored its fifth gain in the past six sessions, ranged less than 55 points on the day.

Winners outpaced losers within the Dow, 18 to 12, led by General Electric (GE), Verizon Communications (VZ) and Travelers (TRV).

Blue-chip decliners included Bank of America (BAC), du Pont (DD), Boeing (BA) and McDonald's (MCD)

The S&P 500 added 3 points, or 0.21%, to finish at 1436.56. The Nasdaq overcame a late-session dip to rise 10 points, or 0.32%, to settle at 3114.

Apple provided a needed boost as its stock enjoyed a surge in the final hour to close up 1.4% at $668.79, just below its high for the day. The iconic company unveiled the eagerly awaited iPhone 5 at a media event in San Francisco, while also announcing redesigns for its iPod line and an updated version of iTunes.

The iPhone 5 represents a fairly major overhaul of the world's most popular smartphone with a bigger screen, LTE capabilities, Retina Display technology and an improved camera. The device is also thinner and lighter than its predecessors. Pricing starts at $199 with a two-year contract, Apple said, with pre-orders starting Friday and shipping set to begin on Sept. 21. Check out TheStreet's live blog of the event.

The strongest sectors in the broad market were consumer cyclicals, financials and capital goods. Consumer non-cyclicals, utilities and health care were in the red.

Volume totaled 3.62 billion on the New York Stock Exchange and 1.69 billion on the Nasdaq. Gainers were ahead of decliners by a nearly 2-to-1 ratio on the Big Board and 1.5-to-1 on the Nasdaq.

The stakes are high for the Fed's latest policy meeting, which concludes Thursday afternoon. In addition to expectations for another large asset-purchase program, the central bank could extend its promise to keep interest rates at historic lows into 2015 from the current pledge of late 2014.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs