Traders are bracing for the Fed to raise interest rates more than initially expected.
NEW YORK — Stocks edged higher in morning trading on Wall Street Wednesday following the market’s worst day in two years on fears about higher interest rates and the recession they could create.
The S&P 500 rose 0.4% as of 10:13 a.m. Eastern. The benchmark index is coming off its biggest drop since June 2020, which ended a four-day winning streak.
The Dow Jones Industrial Average rose 68 points, or 0.2%, to 31,169 and the Nasdaq rose 0.5%.
Energy stocks had some of the biggest gains as U.S.
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