U.S. / Economy / Business & Markets

Banks lead US stock indexes mostly higher in afternoon trade

Posted On: Dec 12, 2017   |   Posted By: Boston Herald

Banks led U.S. stocks mostly higher in afternoon trading Tuesday as the Federal Reserve met to discuss interest rates and the economy. The central bank was expected to raise interest rates for the third time this year on Wednesday. Banks benefit from higher interest rates because they can charge more to lend money. Utilities were the biggest laggard. Energy stocks also fell as crude oil prices headed lower. Bitcoin futures edged higher on their second day of trading.

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