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


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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: KYTH , LYG

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