The stock market is trading mixed today as investors await today’s Federal Reserve policy announcement. Some stocks saw unusual trading activity this morning with reports pointing to an aggressive algorithmic trading program at Knight Capital Group. Knight Capital did not confirm any problems, but said they were looking into the issue. The New York Stock Exchange announced earlier they were reviewing trades in more than 140 stocks made during the first 45 minutes of trading.
The major stock averages are mixed in early trading with investors taking a wait and see approach ahead of the Fed’s announcement which should happen sometime today. The Dow is up 36 points, the Nasdaq is down 5 points and the S&P 500 is up 3 points. [Read more...]