Markets Right Now: Stocks mixed as investors wait for Fed

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Investors are in wait-and-see mode hours ahead of a widely anticipated Federal Reserve decision on interest rates.

Stocks are opening mixed Wednesday with the S&P 500 barely changed and the Nasdaq showing a slight decline.

Expectations that the Fed will have to cut rates at some point have pushed stocks higher in June. The S&P 500 is up 6% for the month and just 1% off its all-time high. The Fed issues its decision at 2:00 p.m.

Bank stocks led the gainers early Wednesday. Wells Fargo rose 1.2%.

The S&P 500 index was unchanged at 2,917.

The Dow Jones Industrial Average added 68 points, or 0.3%, to 26,532. The Nasdaq fell 12 points, or 0.2%, to 7,941.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.09%.