Stocks are mixed higher before Fed announcement

NEW YORK (AP) — Stocks are mixed in early trading on Wall Street today as investors wait to hear what the Federal Reserve says about the future of its massive economic stimulus program.

The Dow Jones industrial average was up five points, or 0.1 percent, to 15,693 in the first 45 minutes of trading. The Standard & Poor's 500 index was flat at 1,772 and the Nasdaq composite index was off two points at 3,949.

The central bank will release its latest policy statement at 2 p.m. Eastern. Investors expect that the Fed will not make any changes to its economic stimulus program and keep its benchmark short-term interest rate near zero.

The Fed had been expected to cut back on its bond-buying program last month. However, after much debate, Fed officials decided to keep the economic stimulus program in place.

Since the Fed's last meeting, the economy suffered a blow because of the 16-day partial shutdown of the U.S. government and the near-breach of the nation's borrowing limit. As a result, economists say it's unlikely the Fed would make any changes to its stimulus program until early next year.