NEW YORK (Reuters) - Stocks pared losses on Wednesday as oil prices trimmed earlier losses and bank stocks advanced following reassuring comments from Bank of America chief executive.
A report on a potential takeover of computer maker Sun Microsystems
Investors now focused on the outcome of the U.S. central bank's policy meeting, which will yield a statement at around 2:15 p.m. EDT.
With the Fed already having cut interest rates close to zero, attention is on whether the bank would commit itself to buying long-dated government debt as an additional measure to revive the economy.
The Dow Jones industrial average <.DJI> was down 58.86 points, or 0.80 percent, at 7,336.84. The Standard & Poor's 500 Index <.SPX> was down 1.42 points, or 0.18 percent, at 776.70. The Nasdaq Composite Index <.IXIC> was up 6.55 points, or 0.45 percent, at 1,468.66.
(Reporting by Ellis Mnyandu; Editing by Jan Paschal)