Stocks Higher as Investors Await Fed Decision 12/18/13
December 18, 2013
NEW YORK - Stocks are mostly higher in early trading as investors focus on whether the Federal Reserve will start dialing back its stimulus.
Homebuilder stocks rose sharply after U.S. developers broke ground on homes at the fastest pace in more than five years, evidence that the housing recovery is speeding up.
Construction of single-family homes jumped 21 percent. Apartment construction soared 26 percent.
That adds to recent good news on the economy: reports of a healthy housing sector and jobs market are boosting stocks. They are also raising the likelihood that the Fed reduces its bond-buying program, a driver of this year's surge in stocks.