Stocks Mildly Higher Ahead of FOMC Statement; No Surprises Expected

Stocks are mixed to slightly higher ahead of today's FOMC statement, which will likely include another $10 billion reduction in the monthly asset purchase program but no surprises.

The Dow is up 22.7 points, the S&P 500 is up 2.4 points and the Nasdaq is down 2%.

Commenting recently on the upcoming event, Nomura Securities Economist, Lewis Alexander, said, "Communications from the FOMC suggest that
asset purchases are on track to step down in a steady way between now and the end of the year unless there is some drastic change in activity and/or the outlook. We do not expect the FOMC to make any further changes to its forward guidance after dropping the unemployment rate threshold and enhancing guidance last month. We doubt there will be any major surprises at this FOMC meeting as Yellen, in recent speeches, has suggested that the general framework for policy is set, and as of now there doesn‟t seem to be any outstanding issues with regards to the basic structure of policy."

The statement is expected at 2PM ET.

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