NEW YORK (AP) — Stocks are drifting as Wall Street waits to hear what will come out of the Federal Reserve’s latest announcement on interest rates. The S&P 500 was up 0.1% early Wednesday, coming off its third straight losing month largely because of higher yields in the bond market. The Dow was little changed, and the Nasdaq composite was up 0.3%. The Fed is wrapping up its latest meeting on interest-rate policy in the afternoon. The overwhelming expectation is for it to hold its main rate steady for the second straight time. It’s already yanked the overnight rate above 5.25% from nearly zero early last year.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
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