US Stocks Near Unchanged as Market Waits With Bated Breath For Fed Decision

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US stock futures were nearly unchanged ahead of the U.S. Federal Reserve's two-day meeting starting today, at which the Fed is expected to decide on a reduction in its $85-billion-a-month asset purchase program. Economists are expecting a token $10 billion-$15 billion reduction in the program as recent economic data, including jobs creation and participation in the workforce, have come in below expectations.

Today, the Bureau of Labor Statistics said the August consumer price index rose 0.1%, as expected.

In equities, Kythera Biopharmaceuticals ( KYTH ) soared 29% after Goldman Sachs initiated coverage with a neutral rating and a $37.00 price target. Lloyds Banking Group ( LYG ) fell 3% after the U.K. government sold an initial 6% stake in the bank at a 3%-discount.




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This article appears in: Investing , Commodities

Referenced Stocks: KYTH , LYG

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As of 12/26/2014, 04:15 PM


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