Stocks set to extend rally ahead of Fed meeting

[September 20, 2010]  NEW YORK (AP) -- Stocks are set to extend their September rally into a fourth week as traders eye the Federal Reserve's meeting in the coming days.

There is a growing expectation the Fed's rate-setting committee might relaunch programs to buy Treasurys and mortgage bonds in an effort to further stimulate the struggling economy. At the very least, it might hint at future plans to make such moves.

Key housing reports throughout the week will also be closely scrutinized for signs of improvement in the struggling market. There are no major economic reports due out Monday.

Dow Jones industrial average futures are up 47, or 0.5 percent, at 10,585. S&P 500 futures are up 6, or 0.6 percent, at 1,126, while Nasdaq 100 futures are up 11, or 0.6 percent, at 1,964.

[Associated Press; By STEPHEN BERNARD]

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