Stocks are mixed on Wall Street ahead of Fed news

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Associated Press

Posted on January 8, 2014 at 11:02 AM

Updated Wednesday, Jan 8 at 11:02 AM

NEW YORK (AP) — Stocks are mixed on Wall Street as investors hold back ahead of the release of the latest news from the Federal Reserve.

The Dow Jones industrial average was down 54 points, or 0.4 percent, at 16,435 in midday trading Wednesday.

The Standard & Poor's 500 index was up a point, or 0.1 percent, at 1,839. The Nasdaq composite was up 17 points, 0.4 percent, at 4,170.

Telecommunications stocks fell, while health care stocks rose.

Ford rose 1.5 percent after CEO Alan Mulally said he would not leave to run Microsoft.

Later Wednesday, investors will get the minutes from the Fed's December policy meeting, where officials voted to start pulling back on the bank's bond-buying program.

Bond prices fell. The yield on the 10-year Treasury note rose to 3 percent.

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