Stocks were lower at Tuesday’s opening bell weighed by further declines in oil prices, a dramatic interest rate hike in Russia and a slowdown in China’s manufacturing sector. Investors are also waiting on the Fed as its two-day policy meeting gets underway. Policy makers will decide whether to keep its pledge to hold interest rates low for a ‘considerable time.’ New home construction for single family homes in the U.S. slowed in November. According to the latest government report, housing starts dropped 1.6% to 1.03 million but are still showing signs of a recovery in the housing market. A couple of blue chips raised their quarterly dividend. 3M (MMM) boosted its payout by 20%, as the scotch tape maker projects a gain in profit next year. Boeing (BA) also increased its dividend by 25%. The jet-maker is also adding $2 billion to its share buyback program.
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