Stocks open mixed ahead of Fed statement
Tuesday, September 20, 2011
NEW YORK (AP) -- Stocks are opening mixed amid uncertainty about what steps the Federal Reserve might take to stimulate the U.S. economy.
Concerns that Greece could fail to qualify for fresh bailout funds also pushed stocks lower.
Fed Chairman Ben Bernanke plans to discuss the central bank's policy decision at midday Wednesday. Most economists expect some sort of stimulus measures.
Investors are also concerned about European debt. Greek finance ministers said Wednesday the country will have to enact more austerity measures before international lenders will release rescue funds.
Shortly after the opening bell, the Dow Jones industrial average is down 11 points, or 1 percent, at 11,399. The Standard & Poor's 500 index is up less than 1 point. The Nasdaq composite is up 11, or 0.4 percent, at 2,601.