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Stocks rise after German court ruling, as Fed meeting begins

September 12, 2012|By Andrew Tangel
  • Traders work on the floor of the New York Stock Exchange,
Traders work on the floor of the New York Stock Exchange, (Spencer Platt / Getty Images )

NEW YORK -- Stocks rose in early trading Wednesday after Germany's high court ruled in favor of a European Central Bank plan to ease borrowing costs of struggling Eurozone countries.

The Dow Jones industrial average was up 27 points, or 0.2%, shortly after the opening bell on Wall Street. The Dow has recently risen to levels not seen since December 2007, when the Great Recession officially began.

The broader Standard & Poor's 500 index was up 4 points, or 0.3%, or 1,438. The Nasdaq was up 9 points, or 0.3%, to 3,113.

Investors were also keeping an eye on the Federal Reserve, which meets Wednesday and Thursday.

As data have showed the U.S. economy struggling to grow, anticipation of further monetary stimulus from central bank has been building. The Fed could announce new steps to lower interest rates and spur investment in a third round of stimulus known as quantitative easing.

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