Stocks slip ... Comcast and Fox ... Crude rises
NEW YORK (AP) — U.S. stocks slipped Wednesday after the Federal Reserve raised interest rates and said it expects to increase rates two more times by the end of the year. Investors bet that several huge deals are more likely to happen after a federal court cleared AT&T’s $85 billion purchase of Time Warner.
NEW YORK (AP) — The ruling in the AT&T-Time Warner trial sent ripples through the media and telecommunications industries. Shares of Twenty-First Century Fox jumped as investors anticipated Comcast’s offer for Fox’s entertainment businesses. It came just after trading ended, as Comcast announced a $65 billion bid.
NEW YORK (AP) — The S&P 500 index fell 11.22 points, or 0.4 percent, to 2,775.63 after it closed at a four-month high Tuesday. The Dow Jones industrial average lost 119.53 points, or 0.5 percent, to 25,201.20. The Nasdaq composite slipped 8.09 points, or 0.1 percent, to 7,695.70.
NEW YORK (AP) — Benchmark U.S. crude rose 0.4 percent to $66.64 a barrel in New York. Brent crude, used to price international oils, gained 1.1 percent to $76.74 per barrel in London. Wholesale gasoline added 1.7 percent to $2.13 a gallon. Gold added 0.1 percent to $1,301.30 an ounce.
ATLANTIC CITY, N.J. (AP) — New Jersey gambling regulators have issued regulations for sports betting providers. That clears the way for the Borgata to become the first casino to start taking bets. It plans to do so at 11 a.m. Thursday.