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Trader Kenneth Polcari works on the floor of the New York Stock Exchange Wednesday, March 20, 2013. Stocks are opening higher on Wall Street as the European island nation of Cyprus seeks alternatives to a bailout plan its legislature overwhelmingly rejected the day before.
Stocks are rising on Wall Street ahead of a decision by the Federal Reserve about whether to push ahead with aggressive measures to boost the economy.

Concern eased about a possible financial crisis in Cyprus. The Mediterranean nation needs a bailout to avoid defaulting on its financial obligations.

The Dow Jones industrial average was up 51 points, or 0.4 percent, to 14,507 shortly before noon Eastern time Wednesday.

The Standard & Poor's 500 index rose 8 points, or 0.5 percent, to 1,556. The Nasdaq composite index rose 15, or 0.5 percent, to 3,244.

Adobe Systems rose 4 percent after reporting strong results and a pickup in online subscriptions. FedEx slumped 6 percent after the company reported a 31 percent plunge in income as shippers chose cheaper package delivery options.