US stocks open higher as Federal Reserve meets

By: Associated Press
By: Associated Press

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NEW YORK (AP) -- Stocks are opening higher as the Federal Reserve begins a two-day meeting where policymakers are expected to extend an aggressive economic stimulus program.

The Fed opens its meeting Tuesday in the wake of a 16-day partial government shutdown that made it all but certain the central bank will continue its $85 billion in monthly bond buying.

The Dow Jones industrial average rose 50 points to 15,619 in early trading. The Standard & Poor's 500 index climbed five points to 1,767. The Nasdaq composite gained 11 points to 3,951.

Apple's stock is trading slightly higher after the company's earnings report late Monday left investors uninspired.

Apple's profits fell again, though it did beat most expectations for the quarter.

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