U.S. stocks trimmed gains but remained in positive territory in afternoon trading on Wednesday, half an hour ahead of a widely anticipated interest rate hike by the Federal Reserve.
READ MORE: Fed Raises Interest Rates, Cites Ongoing US Economic Recovery
An increase in the Fed's benchmark rate, from near zero, would be the first since June 29, 2006. Traders see an 81.4 percent chance of a rate hike, according to the CME Group's FedWatch tool.
The U.S. central bank is expected to raise rates by a token 25 basis points, when it announces the outcome of its policy meeting at 2 p.m. ET (1900 GMT). Fed Chair Janet Yellen will hold a news conference by at 2:30 p.m. ET.
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