U.S. Markets open in 4 hrs 12 mins

Stocks wobble after Fed says interest rates will rise faster

Houston Chronicle
Stocks wobble after Fed says interest rates will rise faster

NEW YORK (AP) - U.S. stocks are mixed Wednesday after the Federal Reserve raised interest rates and said it expects to increase rates two more times by the end of the year. Banks are rising, as they stand to make more money on lending. Bond yields are higher and big-dividend stocks like real estate investment trusts are falling. A federal court ruled that AT&T's $85 billion purchase of Time Warner can proceed, and that's sending ripples through the market as investors bet that hundreds of billions' worth of deals in the media, telecommunications and health care industries stand a better chance of getting approved. KEEPING SCORE: The S&P 500 index remained at 2,785 as of 3:20 p.m. Eastern time.