Around the World's Markets: New York

WALL STREET went modestly higher by mid-session, with the broader market waiting for the Federal Reserve's decision on interest rates. The Dow Jones Industrial Average was up 17 points at 8,126 as investors hoped for a 0.5 per cent cut.

Shares were mixed as Gillette, Goodyear Tire and International Flavors & Fragrances all warned that weak international sales would result in disappointing third-quarter profits, illustrating the damage caused by slumping economies abroad.