Failed healthcare bill raises questions on Trump's ability to deliver on ambitious economic agenda
Investors were worried that failure of bill would have dismantled the law known as Obamacare
Healthcare bill is seen as President Donald Trump's first policy test
Oil prices touched four-month lows
(Reuters) - The S&P and the Nasdaq reversed course to climb higher in afternoon trading on Wednesday, as investors sought bargains a day after the major indexes posted their biggest one-day loss since before the election.
Banks' stocks are sensitive to changes in expectations of how quickly the Fed will adjust rates
Investors question how quickly the Trump administration can implement pro-growth policies
US budget signalled higher regulatory costs for the sector and a cut in funding for medical research
Central bank on Wednesday raised rates by a quarter point to 0.75-1.00%
The Federal Reserve raised its target rate by 25 basis points to 0.75 to 1.00 per cent
Traders have priced in more than a 90% chance of a quarter point rate increase
Wall Street's top banks were unanimous on the view the Fed would raise rates at its policy meeting
Major S&P 500 sectors were trading within small range, indicating a subdued appetite on Wall Street
The Dow Jones Industrial Average was up 66.2 points
Bank stocks climbed amid signs of strength in labor market and a near-certain interest rate hike
The Dow Jones Industrial Average was up 22.64 points
Trump said he is working on a system to increase competition in drugs industry to bring down prices
Offering no evidence, in a series of tweets on Saturday, Trump alleged that Obama had wiretapped him
Financials, which benefit from higher rates, moved higher after Yellen's comments
Fed Guv Lael Brainard said an improving global economy, solid US recovery would help to raise rates