|Page (1) of 1 - 06/20/12||email article||print page|
Stocks edge lower in advance of Fed news; bleak outlook from Procter & Gamble
Stocks are nearly flat at midday as investors look for direction from a Federal Reserve announcement expected Wednesday afternoon.
The Fed could keep buying long-term bonds to keep rates low. Failing that, it might signal that it's ready to act if the economy sputters. A statement from the Fed is expected at 12:30 p.m. Eastern Time.
Stocks hardly moved. A few minutes before noon, the Dow Jones industrial average was down 10 points at 12,827. The Standard & Poor's 500 index was down almost two points at 1,356. The Nasdaq composite index rose one point to 2,931.
Procter & Gamble, the world's largest consumer products maker, fell more than 3 percent after predicting continued slow growth in developed markets and China.