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June 18th, 2013 
Peter Nolan
US stocks have opened higher as markets turned to the start of a two-day Federal Reserve policy meeting and US housing data that came in below expectations.
Five minutes into trade on Tuesday, the Dow Jones Industrial Average rose 40.56 (0.27 per cent) to 15,220.41.
The broad-based S&P 500 added 2.47 (0.15 per cent) to 1,641.51, while the tech-rich Nasdaq Composite Index increased 9.88 (0.29 per cent) to 3,462.01.
Tuesday’s gains followed erratic trading Monday that concluded with markets solidly higher in anticipation that the Fed will not change sharply when its meeting concludes on Wednesday.
“We wouldn’t put it past the market to exhibit more jumpiness today since there will be yet more discussion of the FOMC meeting and what the Fed chairman might say at his press briefing,” said a Briefing.com analysis.
Commerce Department data on Tuesday showed housing starts rose 6.8 per cent in May to 914,000, well above last year’s level but below the 950,000 forecast by analysts.
New building permits came in a 974,000, also below the 983,000 expected by analysts.
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