Stocks edge higher as Fed ends two-day meeting

AP News
Posted: Dec 12, 2012 11:49 AM

NEW YORK (AP) — Stocks are edging higher, extending a winning streak, as investors awaited news on whether the Federal Reserve will extend its economic stimulus program.

Traders were also watching for developments from Washington in budget talks between President Barack Obama and Congressional Republicans. Stocks have risen over the past five days as optimism increased that a deal can be struck.

The Dow Jones industrial average was up 21 points at 13,270 shortly before noon in New York.

The Standard and Poor's 500 was up three points at 1,432. The Nasdaq composite was up one point at 3,024.

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The Fed was expected to announce a revamped bond-buying plan at the end of a two-day policy meeting Wednesday.

Aetna rose after the insurer said it expects sales and profit to grow next year.