Markets Right Now: Stocks opening slightly higher Wednesday

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

9:40 a.m.

Stocks are opening slightly higher Wednesday, with investors focused on the approval of AT&T’s takeover of Time Warner as well as the Fed statement due in the afternoon.

AT&T fell 4.2 percent and Time Warner gained 3.7 after a judge cleared the way for the $85 billion takeover of Time Warner. The ruling also brought deals involving Comcast, Twenty-First Century Fox and Disney into investors’ sights.

With the Fed expected to announce a slight rate increase, attention will focus more on how many additional rate hikes the central bank may do this year.

The S&P 500 index rose 1 point, or less than 0.1 percent, to 2,787.

The Dow Jones industrials climbed 33 points, or 0.1 percent, to 25,354. The Nasdaq composite added 11 points, or 0.2 percent, to 7,714.

This article provided by NewsEdge.