Investors guess Fed’s actions, push stocks higher

Investors guess Fed’s actions, push stocks higher

NEW YORK (AP) — The U.S. stock market rose in early trading today, driven not by any new economic data but by investors counting on the Federal Reserve to extend programs meant to boost the economy.

The Dow Jones industrial average was up 158 points, or 1 percent, to 15,228 after the first half-hour of trading. All but two of the 30 stocks in the Dow rose, led by Cisco Systems, which gained 64 cents, or 2.7 percent, to $24.73.

With little in the way of big company announcements or economic reports, investors instead started guessing what the Fed will do when it begins a regularly scheduled two-day meeting on Tuesday.