US stocks are little changed on Wall Street as investors wait for Fed decision on stimulus

NEW YORK, N.Y. – Stocks are little changed in midday trading as investors wait for word from the Federal Reserve on its stimulus program.

The Dow Jones industrial average was up 17 points, or 0.1 per cent, to 15,892 as of noon Wednesday.

The Standard & Poor’s 500 index edged down two points, or 0.1 per cent, to 1,779. The Nasdaq composite fell 20 points, or 0.5 per cent, to 4,003.

The Fed makes its announcement at 2 p.m. (1900 GMT).

Homebuilders rose sharply on news that developers broke ground on homes at the fastest pace in more than five years, more evidence that the housing recovery is picking up.

Ford slumped $1.11, or 7 per cent, to $15.58 after issuing a three-year profit forecast that fell short of investors’ expectations.