Tuesday, June 23, 2009

A rise in existing home sales is doing little to stoke the stock market.

Stocks are up modestly after the National Association of Realtors said May sales of existing homes rose 2.4%. That was slightly smaller than economists' prediction of 2.8%.

Later Tuesday, the Federal Reserve begins its two-day meeting on monetary policy. The Fed is expected to keep its key rate near zero, but investors are unsure how optimistic policy makers will be in their economic assessment Wednesday.