Stocks higher ahead of Fed meeting

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Associated Press

Posted on December 11, 2012 at 8:36 AM

Updated Tuesday, Dec 11 at 9:04 AM

NEW YORK (AP) — Stocks are opening higher ahead of a meeting of the Federal Reserve and possible additional steps to help the U.S. economy.

Just after the opening bell, the Dow Jones industrial average is up 52 points to 13,222. The Standard & Poor's 500 index is up six points at 1,424. And the Nasdaq composite index is up 19 at 3,005.

Many expect the Fed to initiate a new bond-buying plan at the end of its two-day meeting Wednesday, hoping to tempt companies and individuals to borrow through low interest rates. The current program expires this year.

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