US stocks edge higher

Wall Street rallied late today for the second day in a row, but the pattern of trading left market-watchers doubtful that the advance would hold ahead of a key Federal Reserve meeting and the handover of power in Iraq next week.

Investors have largely factored in the expected rise in interest rates and a shaky transition of power in Baghdad, so many analysts think the sideways trading of the past several weeks could continue even after those events have passed. But the late-day buying was still encouraging.