Closing Bell: Icahn Cuts Chesapeake Stake; U.S. Stocks Climb Ahead of Fed Decision

U.S. stocks hold slight gains through to the end of the session ahead of one of the biggest days for monetary policy news.

Author:: Keris Alison Lahiff
Publish date:: Sep 20, 2016 4:22 PM EDT

U.S. stocks held slight gains through to the end of Tuesday's session ahead of one of the biggest days for monetary policy news. Both the Federal Reserve and the Bank of Japan will make policy announcements on Wednesday. Chesapeake Energy (CHK) - Get Report moved lower after activist investor Carl Icahn cut his stake in the company to less than 5% from more than 9%. Icahn said the move was tied to tax planning purposes. Wells Fargo (WFC) - Get Report CEO John Stumpf apologized to the Senate Banking Committee on behalf of the bank's illegal sales practices. Senator Elizabeth Warren called on Stumpf to resign after the bank was found to have opened millions of unauthorized accounts to drum up sales numbers. Tesla (TSLA) - Get Report has fixed a control system software bug that exposed the Model S to hackers. The vulnerability allowed hackers to change turn signals, brakes and locks. TheStreet's Keris Lahiff reports from Wall Street.