Midday Report: Crude Recovers After Stockpile Decline; U.S. Stocks Rise

U.S. stocks held onto slight gains, snapping a four-session losing streak. That could all change by this afternoon, though, depending on what the Fed says after its meeting. Fresh forecasts will be released, including the closely-watching dot plot matrix. Crude oil recovered from earlier lows after a decline in U.S. inventories over the past week. Stockpiles fell by 900,000 barrels according to the EIA. However, the decline wasn't as steep as expected. Cisco (CSCO) - Get Report was downgraded to NEUTRAL from BUY at Goldman Sachs. Analysts said the networking tech company lacks near-term catalysts. Procter & Gamble (PG) - Get Report was rated a new buy at Jefferies. The firm said Procter can return to 3%-plus organic sales growth in the coming years.