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News Summary: S&P 500 index nears a record high

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The Associated Press | September 17, 2013 04:23 PM EST | AP


EYES ON FED: The Federal Reserve is widely expected to reduce its stimulus when a two-day meeting wraps up on Wednesday. That stimulus has helped stocks.

NO WORRIES: Analysts believe investors have already priced in the expected reduction of Fed help. Stocks have been rising in advance of the announcement.

THE SCHEDULE: The Fed is expected to release its policy statement at 2 p.m. Eastern, followed by a press conference with chairman Ben Bernanke at 2:30 p.m.