NEW YORK (AP) — Stocks are edging slightly higher in midday trading as investors wait for news about interest rates from the Federal Reserve.
The Fed winds up a two-day policy meeting later Thursday September 17, and could raise interest rates for the first time in nearly a decade. A long period of ultra-low interest rates since the financial crisis has helped send stock and bond prices higher.
Verizon slumped 3 percent after saying its earnings may plateau next year. Cablevision soared 15 percent after agreeing to be acquired by European cable company Altice.
The Dow Jones industrial average gained 13 points, or 0.1 percent, to 16,753 at midday.
The Standard & Poor’s 500 climbed a point to 1,996. The Nasdaq composite increased 11 points, or 0.2 percent, to 4,900.
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