Stocks open higher on Wall Street ahead of Fed

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Associated Press

Posted on June 17, 2013 at 9:02 AM

Updated Monday, Jun 17 at 9:02 AM

NEW YORK (AP) — Stocks are opening higher on Wall Street ahead of a two-day meeting of Federal Reserve policymakers.

Traders have been trying to figure out when the Fed will start to cut back on its huge bond-buying program, which has been lifting bond prices, keeping interest rates low and encouraging people to buy stocks.

A survey of manufacturing in the Northeastern U.S. was stronger than expected.

The Dow Jones industrial average rose 144 points, or 1 percent, to 15,218 points in the first few minutes of trading Monday.

The Standard & Poor's 500 index rose 14 points, or 0.9 percent, to 1,641. The Nasdaq composite was up 31 points, also 0.9 percent, to 3,455.

Netflix jumped 6 percent to $226 after announcing a deal to run original television series from Dreamworks Animation.

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