U.S. stock indexes edge higher after U.S. Fed hikes rate

NEW YORK -- Stocks moved slightly higher after the U.S. Federal Reserve made its long-expected move to raise interest rates.

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The Dow Jones industrial average was up 102 points, or 0.6 per cent, at 17,625 as of 2:15 p.m. Eastern time Wednesday, shortly after the Fed announced that it was increasing its benchmark short-term interest rate for the first time in nearly a decade.

The Dow was up about 60 points just before the Fed released its policy announcement at 2 p.m.

The Standard & Poor's 500 index was up 13 points, or 0.6 per cent, at 2,055. The Nasdaq rose 29 points, or 0.6 per cent, at 5,024.

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.27 per cent.


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