Stock market rises slightly in early trading; markets seek more clarity on the Fed’s direction
NEW YORK, N.Y. – The U.S. stock market opened slightly higher as investors sought more clarity on the direction of Federal Reserve policy.
They may get that Friday after a handful of Fed officials speak.
The Dow Jones industrial average rose 11 points to 15,647 in early trading Friday. The Standard & Poor’s 500 index edged up two points to 1,724. The Nasdaq composite rose seven points to 3,797.
The central bank this week shocked markets by leaving in place an $85 billion bond-buying program. Most economists had expected the Fed to begin trimming its buying with the economy improving.
The Kansas City Fed president will give a speech, and so will the St. Louis Fed president.
Darden Restaurants fell $1.73, or 3 per cent, to $47.57 after the company reported sharply lower quarterly profit.
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