Wall Street drifts higher with eyes on Fed

Traders work on the floor of the New York Stock ExchangeBy Rodrigo Campos NEW YORK (Reuters) – U.S. stocks edged higher on Friday, with the S&P 500 set to post its largest weekly gain in two months, with traders focusing on next week's U.S. Federal Reserve meeting and its expected reduction of stimulus. Despite indications economic growth slowed somewhat in the third quarter, the Fed is seen trimming its monthly asset purchases by $ 10 billion to $ 75 billion, with monetary policy remaining widely accommodative – and supportive of equities. …



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