US markets muted ahead of Fed news

Stocks moved cautiously Wednesday morning in advance of a U.S. Federal Reserve monetary policy announcement. Some expect the Fed to announce additional economic stimulus, most likely through an extension of quantitative easing. Until the afternoon announcement, however, market movement is apt to be muted. In midmorning trading, the Dow Jones industrial average added 9.45 points or 0.07 percent to 13,257.89. The tech-heavy Nasdaq index gave up 1.48 points or 0.05 percent to 3,020.82. The Standard and Poor's 500 added 1.74 points or 0.12 percent to 1,429.57. The 10-year treasury note fell 1/32 to yield 1.661 percent. The euro rose to $1.3037 from Tuesday's $1.3006. The dollar rose to 82.94 yen from 82.51 yen. Japan's Nikkei 225 index rose 0.59 percent, 56.14 points, to 9,581.46.