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May 19, 2016

Stocks mostly unchanged after Fed minutes released

NEW YORK (AP) — New signs that interest rates may be heading higher sent stocks flitting between gains and losses Wednesday, but the major indexes ended up closing pretty much where they started.

Stocks held onto gains through the first part of the day, but in the afternoon the Federal Reserve released minutes of its last meeting suggesting it was more open to raising rates than many had thought. Caught unaware, investors started dumping utilities and other high dividend payers that had been in favor for much of the year.


 
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