U.S. markets traded up slightly in midday trading Wednesday as investors expect Federal Reserve Chair Janet Yellen will not raise interest rates in a Federal Open Market Committee meeting today. The S&P and Dow Jones industrials were each up just over 0.2%, while the Nasdaq was trading up 0.3%.
Meanwhile, oil continued its weeklong skid, falling 0.3% to $48.35 a barrel, based on U.S. benchmark West Texas Intermediate.
U.S. Steel shareholders also benefited Wednesday from a Bank of America analyst upgrade to Neutral from Underperform, as well as a price target hike to $18 from $10, based on rising steel prices and an improved corporate debt structure.
Whole Foods (WFM) shares also dropped more than 4% in midday trading after a Food and Drug Administration report surfaced that the discount warehouse had "serious violations" surrounding contaminated food at one of its Massachusetts outlets.
-- Written by James Passeri