US stocks rising as investors await Fed meeting
Source: AP-EXCITE
By BERNARD CONDON
NEW YORK (AP) — U.S. stocks rose Tuesday as investors weighed earnings reports from several companies and awaited news from a two-day U.S. Federal Reserve meeting that ends Wednesday.
KEEPING SCORE: The Dow Jones industrial average rose 53 points, or 0.3 percent, to 16,871 as of 12:20 p.m. The Standard & Poor's 500 index climbed 10 points, or 0.5 percent, to 1,972. The Nasdaq composite rose 47 points, or 1 percent, to 4,533.
BIOTECH BOUNCE: Amgen, the world's biggest biotech drugmaker, rose 6 percent after it announced plans to cut more jobs, buy back $2 billion worth of stock and raise its dividend by 30 percent. That followed news Monday that Amgen's third-quarter adjusted earnings and revenue topped Wall Street's expectations. Amgen rose $8.25 to $156.45.
SLIM IS IN: The Madison Square Garden Co. surged 10 percent after it said it's considering a plan to split off its entertainment businesses from its media and sports divisions. The stock rose $7 to $72.78.
FULL story at link.
In this Oct. 8, 2014 photo, people walk to work on Wall Street beneath a statue of George Washington, in New York. U.S. stocks rose early Tuesday, Oct. 28, 2014, as investors weighed earnings reports from several companies and awaited news from a two-day U.S. Federal Reserve meeting that ends tomorrow. (AP Photo/Mark Lennihan)
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