Economics
U.S. Stocks Advance as Merck, IBM Shares Gain Before Fed Meeting
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The Standard & Poor’s 500 Index rose as Merck & Co. boosted its outlook and IBM Corp. increased its dividend before Wednesday’s Federal Reserve decision. The Nasdaq 100 Index slid 0.2 percent as Apple Inc. slumped.
Merck added 5 percent after lifting its annual earnings forecast. International Business Machines Corp. climbed 1.9 percent. Twitter Inc. plunged 18 percent after an unexpected early release of its results showed revenue fell short of estimates. Apple slipped 1.6 percent amid concerns that rapid iPhone growth may not continue. Whirlpool Corp. dropped 7.1 percent after cutting its annual forecast.