U.S. Stocks Open Higher As Investors Brace For Rate Hike

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. The Dow Jones Industrial Average gained 162 points or 0.9% to 17,684. The Nasdaq Composite added 40 points or 0.8%, to 5,035.