Markets Right Now: Stocks move higher on Wall Street

Markets Right Now: Stocks move higher on Wall Street

NEW YORK (AP) – The latest on developments in financial markets (all times local):

11:45 a.m.

Stocks are moving slightly higher as investors wait for word from the Federal Reserve on interest rates.

The Fed is widely expected to raise its benchmark rate for the third time this year later Wednesday. It’s a positive sign for the economy but will also raise borrowing costs for businesses and consumers.

Most investors expect a fourth rate increase in December with perhaps a few more in 2019, as the economy continues to strengthen.

The S&P 500 index added 6 points, or 0.2 percent, to 2,922.

FILE- In this May 10, 2018, file photo signs for the New York Stock Exchange hang above the trading floor. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, Sept. 26. (AP Photo/Mark Lennihan, File)

The Dow Jones Industrial Average rose 40 points, or 0.1 percent, to 26,532. The Nasdaq composite climbed 29 points, or 0.4 percent, to 8,036.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 3.08 percent.

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9:35 a.m.

Stocks are opening slightly higher on Wall Street, led by gains in health care companies.

Alexion Pharmaceuticals climbed 3 percent in early trading Wednesday, and IBM rose 2.3 percent.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note fell to 3.08 percent.

The Federal Reserve is expected to announce another increase in its benchmark short-term lending rate later in the day. It would be the third rate hike this year.

The S&P 500 index added 4 points, or 0.2 percent, to 2,919.

The Dow Jones Industrial Average rose 54 points, or 0.2 percent, to 26,550. The Nasdaq composite was little changed at 8,014.

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