Stocks Finish Higher Ahead of Fed Decision

Also, the Bureau of Labor Statistics reported Wednesday that import prices declined 2.2% last month from the same time last year and were down 0.5% excluding the fuel component. Meanwhile, August export prices fell 0.9%, and were down 1.9% excluding the agriculture component.

On the corporate front, Facebook (FB) CEO Mark Zuckerberg said he was disappointed in the performance of the social networking giant's stocks since its IPO at an appearance at a media conference in San Francisco on Tuesday.

Zuckerberg also disclosed the company wasn't building a Facebook phone, saying that "building a phone is the wrong strategy for us." Shares tacked on 7.6%.

Oncolytics Biotech (ONCY) shares plunged 15.1% as the development stage, cancer therapeutic company announced that it plans to expand enrollment in the first stage of its study on a treatment of head and neck cancers. The company said it intends to submit protocol amendments to regulators in the immediate near term to reflect these changes, and that it will require additional time to follow the expanded group of patients.

Xyratex (XRTX) shares tumbled 10.2% after the provider of data storage technology cut its fiscal third-quarter revenue estimates amid weaker demand from key customers in the core enterprise data-storage unit.

Ford's (F) board is expected this week to discuss a succession plan for CEO Alan Mulally, who is expected to retire by the end of 2013, according to Bloomberg, which cited a person familiar with the matter. Shares closed up 0.59%.

2012 Stock Predictions and Outlook

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--Written by Andrea Tse and Joe Deaux in New York.



>To contact the writer of this article, click here: Andrea Tse.

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