Waiting game

Traders James Dresch, right, works on the floor of the New York Stock Exchange Wednesday.

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Traders James Dresch, right, works on the floor of the New York Stock Exchange Wednesday.

Encouraging news on the labor market buoyed stocks in early trading Wednesday as investors waited for the Federal Reserve to weigh in on the economy.

The U.S. Federal Reserve pledged to keep a key interest rate at a record low for an “extended period,” signalling that the weak economy remains dependent on government help to grow.