Market flat as investors brace for the Fed

NEW YORK (CNNMoney)

The Dow Jones Industrial Average, S&P 500, and Nasdaq all were little changed. On Monday, the Dow jumped about 130 points, or almost 1%, while the S&P 500 and Nasdaq also rose sharply.

Investors are eager to find out when the Fed might begin to cut back its massive stimulus program. Some think the so-called taper may come sooner than expected.

Deutsche Bank chief economist Peter Hooper is predicting that the Fed will announce plans on Wednesday to cut back its monthly bond buying by anywhere from $5 billion to $15 billion from its current pace of $85 billion a month.

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In corporate news, Faceboo (FB, Fortune 500)popped almost 2% to a new all-time high after the social network said it is rolling out a feature that will allow advertisers to play videos in users' news feeds.

Shares of Herbalif (HLF)spiked 3% after surging nearly 10% Monday when investors got word that PricewaterhouseCoopers' re-audits of the company's financial results came back clean. Herbalife has been battling accusations of financial wrongdoing from activist investor Bill Ackman, who has repeatedly called it a pyramid scheme and has a big short bet against the stock.

Boeing (BA, Fortune 500) was up 1.5% after the aerospace giant announced a 50% dividend increase and $10 billion stock buyback program.

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European markets declined in morning trading Tuesday, while Asian markets ended the day with mixed results.

First Published: December 17, 2013: 9:45 AM ET

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