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Post by bot on Sept 20, 2016 20:50:37 GMT -5
U.S. stocks drift higher at the open as Fed, BOJ decisions loom
U.S. stocks on Tuesday began the session trading higher ahead of key central-bank meetings that are likely to set the tone for Wall Street in the weeks ahead. The Federal Reserve and the Bank of Japan kick off separate two-day policy meetings that wrap up Wednesday. The Dow Jones Industrial Average opened about 83 points, or 0.5%, higher at 18,202, the S&P 500 index advanced 8 points, or 0.4%, at 2,147, while the Nasdaq Composite Index was up 21 points, or 0.4%, at 5,255. In corporate news, Ascena Retail Group Inc. fell more than 20% in early trade after the owner of Ann Taylor stores delivered weaker than expected fourth-quarter results late Monday. And, Wells Fargo & Co. chairman and CEO, John Stumpf, is set to appear at a hearing on the bank's unauthorized opening of millions of accounts for existing and even nonexistent customers.
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