Stocks on Hold as Traders Await Fed's Announcement on Tapering - Video - TheStreet

Stocks on Hold as Traders Await Fed's Announcement on Tapering

Stocks hovered around the flat line at midday on Wednesday ahead of the Fed Reserve's statement at 2 pm, eastern.
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Stocks hovered around the flat line at midday on Wednesday ahead of the Fed Reserve's statement at 2 pm, eastern. Crude oil added to gains after a supply report was in line with expectations. The Energy Information Administration reported U.S. crude-oil inventories increased by 2.1 million barrels in the week ended Oct. 24. Shares of ConocoPhillips (COP), Hess (HES) and Chevron (CVX) are all higher on the news. Facebook (FB) lost nearly 6 percent after saying it will spend a lot more next year despite predicting a slowdown in revenue. U.S. Steel (X) rallied after reporting better than expected earnings results. The stock is up nearly 9 percent.