U.S. stocks open higher as investors brace for rate hike

December 16, 2015 2:40 PM

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U.S. stocks opened higher Wednesday, with the Dow industrials posting three-digit gains after the opening bell, as strategists said the market could cheer the Federal Reserve’s interest-rate hike that’s widely expected this afternoon.

The CME Group’s FedWatch tool has put the chance of a hike at 81%. A flurry of second-tier economic data from the housing and manufacturing sector released Wednesday morning were viewed as solid enough to keep the central bank on track for a rate hike. The S&P 500 rose 16 points or 0.8% to 2,059. Th...

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