NEW YORK (AP) – The U.S. market is quiet for a third day in a row but mostly higher Wednesday following a raft of generally positive economic reports. Investors are looking forward to the Federal Reserve’s comments on the state of the economy later in the day. Oil prices are rising on reports that major energy-producing nations will hold a new round of talks about curbing oil production.
KEEPING SCORE: The Dow Jones industrial average fell three points to 17,248 as of 10:12 a.m. Eastern time. The Standard & Poor’s 500 index rose one point to 2,017. The Nasdaq composite index added 11 points, or 0.2 percent, to 4,739. It’s been a mixed week on the market, which has risen for each of the last four weeks. The Dow is up slightly this week, while the S&P 500 and Nasdaq are a bit lower.
FED TIME: Federal Reserve’s two-day policy meeting ends Wednesday. The central bank is expected to keep rates steady amid uncertainty about the global economy and financial markets, but the Fed’s statement and Chair Janet Yellen’s press conference after the meeting could shed more light on the Fed’s interest rate plans.
ENERGY: Oil prices rose after the announcement that major oil producing countries will meet in Qatar in April to hold more talks about a freeze in oil output levels. A deal – which is far from a sure thing – could help relieve a global glut that has depressed oil prices.
Benchmark U.S. crude rose $1.16, or 3.2 percent, to $37.50 a barrel in New York. Brent crude, the benchmark for international oils, gained $1.14, or 2.9 percent, to $39.91 a barrel in London.