US stocks waver as investors await Fed decision

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Associated Press

Posted on December 18, 2013 at 10:01 AM

Updated Wednesday, Dec 18 at 10:07 AM

NEW YORK (AP) — Stocks are little changed in midday trading as investors wait for word from the Federal Reserve on its stimulus program.

The Dow Jones industrial average was up 17 points, or 0.1 percent, to 15,892 as of noon Wednesday.

The Standard & Poor's 500 index edged down two points, or 0.1 percent, to 1,779. The Nasdaq composite fell 20 points, or 0.5 percent, to 4,003.

The Fed makes its announcement at 2 p.m. Eastern time.

Homebuilders rose sharply on news that developers broke ground on homes at the fastest pace in more than five years, more evidence that the housing recovery is picking up.

Ford slumped $1.11, or 7 percent, to $15.58 after issuing a three-year profit forecast that fell short of investors' expectations.

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