Stocks Near the Flatline Following FOMC Rate Hike: LIVE MARKETS BLOG

 | Jun 13, 2018 | 2:54 PM EDT
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Markets are basically flat Wednesday afternoon, more or less brushing off the Federal Reserve's widely expected decision to hike short-term interest rates by 25 basis points.

The Dow Jones Industrial Average was down 29.06 points at 25,291.67 shortly before 3 p.m. ET, while the S&P 500 was 2.21 points lower at 2,784.64.

However, the Nasdaq Composite was narrowly bucking the downtrend, rising 18.18 ticks to 7,721.98.

Wall Street Opens Slightly Higher as Traders Await FOMC

U.S. stocks opened fractionally higher Wednesday ahead of an expected Federal Reserve rate hike and following a landmark decision against U.S. antitrust regulators who tried to block the proposed merger of AT&T (T) and Time Warner (TWX) .

The Dow Jones Industrial Average added 22.98 points to 25,342.71 shortly after the opening bell, while the S&P 500 tacked on 1.41 points to 2,788.26 and the Nasdaq Composite was 12.19 ticks ahead at 7,715.99.

Markets are awaiting a Federal Open Market Committee decision on interest rates, with analysts widely expecting the central bank to announce a 0.25% rate hike at 2 p.m. ET.

Meanwhile, AT&T was down some 4.1% at $32.93 shortly after the open after winning court approval Tuesday to take over Time Warner. TWX was ahead some 3.7% at $99.70.

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