Alibaba Raises its IPO Price Range, U.S. Stocks Open Lower

Stocks opened lower Tuesday as investors wait on the Fed. The August producer price index came in flat on falling gasoline and food costs. Economists had expected a tenth of a percent increase. The muted inflation pressure is one of the factors Fed policymakers will consider as they start their two-day meeting today. Chair Janet Yellen will hold a press conference Wednesday after the policy decision on interest rates. Alibaba (BABA) has raised its price range for its initial public offering to $66-68 a share from $60-66 a share. The Chinese e-commerce also did not increase the number of shares it plans to offer. This could be the largest IPO in U.S. history. Alibaba is expected to begin trading on Friday. United Airlines (UAL) is offering an early-exit plan to its flight attendants. The buyouts to voluntarily leave the company are worth up to $100,000. United Airlines is the only major carrier in this country to post a quarterly loss this year.