Stocks turn higher at midday as two-day Federal Reserve meeting starts; energy stocks lead


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NEW YORK — U.S. stocks are turning higher at midday with energy companies leading the gains.

The Standard & Poor's 500 index rose 11 points, or 0.6 percent, to 1,995 at 12:03 p.m. Eastern time Tuesday.

The Dow Jones industrial average gained 83 points, or 0.5 percent, to 17,116. The Nasdaq rose 15 points, or 0.4 percent, to 4,534.

Energy stocks rose the most among the 10 industry sectors in the S&P 500, as oil prices jumped.

Fed policy makers have started a two-day meeting and many investors expect the central bank to indicate that it is moving closer to raising its key interest rate as the economy continues to strengthen. The Fed has held the rate close to zero for more than five years, which has helped the stock market surge.

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