US stocks inch up after a 3-day downturn
Stocks are higher after a three-day funk caused by worries that a Federal Reserve meeting next week will be the beginning of the end for generous monetary policies.
Next week’s meeting of the U.S. Federal Reserve is being factored into investment decisions. The Fed has been buying $85 billion per month in bonds to keep markets fluid and interest rates low.
The Dow Jones industrial average is up 20 points at 15,760 in the first few minutes of trading Friday. The Standard & Poor’s 500 index is up five points to 1,780. The Nasdaq composite rose 16 points to 4,014.
All three are still down for the week despite strong reports on employment, housing, and retail spending.
Software maker Adobe Systems jumped 10 percent after subscription-based revenue rose.