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Facebook Stumbles at the Opening Bell, All Eyes on the Fed

U.S. markets are little changed on Wednesday while investors await the latest word from the Federal Reserve later this afternoon.

U.S. markets are little changed on Wednesday. All eyes will be on the Fed Wednesday as it makes an announcement at 2pm, eastern. The Fed is widely expected to end its bond buying stimulus program. Aside from the Fed's statement, investors are keeping a close watch on earnings rolling in. Marriott (MAR) reported earnings beating estimates and raised its full year forecast. Hershey (HSY) shares are taking a hit in early trade after the chocolate maker missed earnings and cut its profit outlook. The chocolate maker cited higher dairy prices and the stronger dollar for lowering its guidance. Facebook (FB) shares are already lower despite beating earnings expectations. The social network said growth will slow this quarter and spending would increase significantly next year. The Mortgage Bankers Association said both purchases and refinancing fell last week. Total home mortgage application volume was down 6.6 percent from the previous week.

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