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U.S. stocks trade mixed ahead of next week's Fed meeting

Xinhua, September 12, 2015 Adjust font size:

U.S. stocks traded mostly lower Friday, as cautious traders were waiting a decision on rate hike by the U.S. Federal Reserve next week.

At midday, the Dow Jones Industrial Average edged up 24.96 points, or 0.15 percent, to 16,355.36. The S&P 500 fell 2.19 points, or 0.11 percent, to 1,950.10. The Nasdaq Composite Index was down 8.41 points, or 0.18 percent, to 4,787.84.

Wall Street remains focused on the Fed ahead of its key policy meeting on Sept. 16-17, when the U.S. central bank could raise interest rates for the first time in more than nine years.

Analysts said uncertainty about the Fed's rate decision at its two-day policy meeting has contributed to the recent market volatility.

The strengthening U.S. labor market and falling import prices, however, triggered market debate over whether the policymakers should raise interest rates next week.

On the economic front, the Producer Price Index for final demand was unchanged in August, yet seasonally adjusted, it beat market expectations for a 0.1 percent decline, the U.S. Labor Department said Friday.

Meanwhile, the preliminary reading of Thomson Reuters/ University of Michigan's consumer sentiment index came in at 85.7 for September, well below market estimates.

U.S. stocks posted sizable gains after volatile trading Thursday, as investors tried to digest mixed economic reports ahead of the Federal Reserve's policy meeting next week. Endit