US STOCKS-Wall St flat with Fed policy statement due

miércoles 18 de junio de 2014 12:05 GYT
 

* Fed policy statement due at 2:00 p.m. (1800 GMT)

* Adobe, FedEx higher after earnings

* ConAgra slumps after cutting outlook

* Indexes off: Dow 0.22 pct, S&P up 0.03 pct, Nasdaq off 0.11 pct (Updates to midday)

By Chuck Mikolajczak

NEW YORK, June 18 (Reuters) - U.S. stocks held near the unchanged mark on Wednesday, on the heels of a three-day winning streak for the S&P 500 index and ahead of a monetary policy announcement by the Federal Reserve.

The Fed is widely expected to announce another $10 billion cut to its monthly bond purchases as it wraps up a two-day policy meeting at 2:00 p.m. (1800 GMT), but is likely to make few, if any, other concrete policy moves.

Fed Chair Janet Yellen will hold a news conference to discuss the results a half hour later. Investors will be attuned to whether officials may tip their hand on longer-term plans for interest rates.

"The capital markets will be a bit on hold until we get a little bit of detail around the Fed meeting this afternoon and the markets will be closely watching the Yellen press conference that follows today's announcement," said Jim Russell, senior investment strategist at U.S. Bank Wealth Management in Cincinnati, Ohio.   Continuación...