TSX Wall Street advance as traders look to Federal Reserve for guidance

TORONTO — The Toronto stock market advanced as investors continue to buy up stocks that suffered during the worst of a market downturn earlier in the month. They are also looking ahead to tomorrow’s interest rate announcement from the U.S. Federal Reserve.The S&P/TSX composite index gained 40.01 points to 14,509.01. The Canadian dollar was ahead 0.28 of a cent to 89.26 cents US.U.S. indexes were also positive with the Dow Jones industrials ahead 72.21 points to 16,890.15, the Nasdaq gained 22.2 points to 4,508.13 and the S&P 500 index was ahead 7.73 points to 1,969.36.This week’s Fed meeting comes as the central bank’s key stimulus program — its massive bond purchases designed to keep long-term rates low — is set to wind up at the end of this month. Traders will also look for reassurance that the Fed is in no hurry to raise rates from near zero.Meanwhile, Twitter said that adjusted earnings in the latest quarter were one cent a share, matching expectations. But investors concerned about user growth and holiday-quarter revenue sent the stock tumbling 14%.

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