Stocks Post Small Gains Ahead of Fed Meeting Conclusion

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Wall Street squeezed out slim gains today to close higher for the third consecutive day despite unfriendly data on housing and inflation plus continued tensions in the Middle East. After digesting a big jump in consumer prices and weaker than expected housing starts and permits, Wall Street climbed out of the red amid positioning before tomorrow's conclusion to the Federal Open Market Committee meeting. As the U.S. economy continues to show more consistent growth, the FOMC is expected to retain its bond-buying tapering schedule by shaving another $10 billion off its Quantitative Easing program. The market also expects policy makers to remain optimistic on the outlook for both inflation and employment.



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