FOMC Meeting Puts Damper on Stock Trading

The major indices are slightly higher as the Fed body meets.
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Major market indices were a touch higher as the market awaits the results of today's

Federal Open Market Committee

meeting.

While the vast majority of analysts expect the Fed to leave short-term interest rates unchanged, there is uncertainty over whether or not the Fed will adopt a tightening bias.

The

Dow Jones Industrial Average

was up 30 to 10,884.

The

S&P 500

was up 1 to 1340. The

Nasdaq Composite Index

was up 3 to 2565. The

Russell 2000

was up 1 to 443.

TheStreet.com Internet Sector

index was down 3 to 638.

The 30-year Treasury bond was up 11/32 to 91 11/32, yielding 5.87%.

Most Up at Open -- NYSE

Charles Schwab (SCH) , up 2 13/16 to 116 3/4

: Schwab said it will go ahead with its 2-for-1 stock split after obtaining approval from shareholders.

Most Up at Open -- Nasdaq

Varlen (VRLN) , up 9 5/16 to 35 1/4

: Privately held

Amsted Industries

, a rail, truck and auto parts maker, launched a hostile bid for Varlen.

Most Down at Open -- NYSE

Royal Dutch Petroleum (RD) , down 1 7/16 to 55

.

Most Down at Open -- Nasdaq

Com21 (CMTO) , down 5 3/16 to 25 1/16

.