NEW YORK - U.S. stocks pointed toward a modestly higher opening Tuesday as Wall Street moved cautiously ahead of the Federal Reserve's meeting on interest rates.
The focus will be the central bank when it issues its decision on rates and accompanying economic statement at 2:15 p.m. EDT. The slumping housing market, tightening credit market and volatile stocks have given investors reason to believe that monetary policy is in need of some loosening.
Most on Wall Street expect either a quarter-point cut in the benchmark federal funds rate or a half-point cut, given last month's decline in jobs and weakening retail sales. Equally important is how the Fed characterizes the …
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