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Markets flat in anticipation of Federal Reserve announcement

Stocks are little changed at mid-morning Wednesday. Traders are likely waiting to see the results of today’s Federal Reserve announcement. A 25 basis-point rate hike is practically a given at this point, but the pace of future hikes is still up in the air.

At present, the S&P 500 is up 0.12%, the DJIA is up 0.05%, and the NASDAQ is up 0.40%.

Industries doing well today include Health Care Providers & Services, Media, and Pharmaceuticals. Industries showing weakness include Diversified Consumer Services, Diversified Telecommunication Services, and Containers & Packaging. The VIX is down 0.18 to 12.16 after closing yesterday at 12.34. The most heavily traded options this morning are for Comcast (CMCSA), with 6,753 July 20 35 calls on the board. The total put/call ratio as of 10:00 AM was 0.68 (221,207/322,947). The advancers/decliners ratio for NYSE stocks is 1,309/1,561, while the advancers/decliners ratio for NASDAQ stocks is 1,525/1,317.

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Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.