NEW YORK (AP) — U.S. stocks are edging mostly lower in early trading as investors wait for news about interest rates from the Federal Reserve.
The Fed winds up a two-day policy meeting later Thursday and could raise interest rates for the first time in nearly a decade. A long period of ultra-low interest rates since the financial crisis has helped send stock and bond prices higher.
Verizon slumped 3 percent after saying its earnings may “plateau” next year. Cablevision soared 16 percent after agreeing to be acquired by European cable company Altice.
The Dow Jones industrial average slipped 32 points, or 0.2 percent, to 16,706 in early trading.
The Standard & Poor’s 500 fell three points, or 0.2 percent, to 1,991. The Nasdaq composite lost five points, or 0.1 percent, to 4,882.