Stocks waver ahead of Fed decision; Oracle falls

AP News
Posted: Mar 19, 2014 12:04 PM
Stocks waver ahead of Fed decision; Oracle falls

NEW YORK (AP) — Stocks are little changed in midday trading on Wall Street as traders wait for the latest policy decision from the Federal Reserve.

Technology stocks fell after Oracle reported weaker earnings and revenue than investors were expecting. Home builders rose following a surge in revenue and profits at KB Home.

The Standard & Poor's 500 index edged down a point to 1,870 as of noon Wednesday.

The Dow Jones industrial average fell a point to 16,334. The Nasdaq composite fell eight points, or 0.2 percent, to 4,324.

The Fed finishes a two-day policy meeting later Wednesday. Investors will be watching to see how quickly the Fed will move to reduce its economic stimulus.

The yield on the 10-year Treasury note rose to 2.69 percent from 2.67 percent late Tuesday.