Markets Right Now: Stocks mixed as investors wait for Fed
NEW YORK (AP) — The latest on developments in financial markets (all times local):
11:45 a.m.
Stocks are mixed in midday trading on Wall Street ahead of a highly anticipated Federal Reserve statement on interest rates.
Expectations that the Fed will have to cut rates at some point have pushed stocks higher in June.
The S&P 500 is up 6% for the month and just 1% off its all-time high. The Fed issues its decision at 2:00 p.m.
Bank stocks led the gainers Wednesday. Bank of America rose 1%.
The S&P 500 index was unchanged at 2,917.
The Dow Jones Industrial Average added 22 points, or 0.1%, to 26,489. The Nasdaq was little changed at 7,952.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.09%.
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9:35 a.m.
Investors are in wait-and-see mode hours ahead of a widely anticipated Federal Reserve decision on interest rates.
Stocks are opening mixed Wednesday with the S&P 500 barely changed and the Nasdaq showing a slight decline.
Expectations that the Fed will have to cut rates at some point have pushed stocks higher in June. The S&P 500 is up 6% for the month and just 1% off its all-time high. The Fed issues its decision at 2:00 p.m.
Bank stocks led the gainers early Wednesday. Wells Fargo rose 1.2%.
The S&P 500 index was unchanged at 2,917.
The Dow Jones Industrial Average added 68 points, or 0.3%, to 26,532. The Nasdaq fell 12 points, or 0.2%, to 7,941.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.09%.
