Growth stocks lift Wall St ahead of Fed’s big rate decision

Published by
Reuters

By Anisha Sircar and Devik Jain (Reuters) – Wall Street’s main indexes rose on gains in beaten-down growth and financial stocks on Wednesday even as investors braced for a bigger interest rate hike by the Federal Reserve to tame persistently high inflation. The largest S&P sectoral gainers were consumer discretionary and communication services, while energy declined 0.7%. Market heavyweights Tesla Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc added between 2% and 4.2%. Investors have dramatically raised their bets that the Fed will raise rates by 75 basis points (bps) instead of 50 bps,…

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