After years without a rate hike, the Federal Reserve is really diving into the hikes now as they increased the federal funds rate by 0.25 percent for the third time in six months. The move wasn’t exactly a surprise for anyone, as the Fed has spoken about how they believe the economy is ready for a rate hike. But now it looks like they’re really buying into that theory, and why that might be needed right now.

Read The Capitalist’s Take Here

Read More at Bloomberg Here

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HOUSE MAJORITY WHIP STEVE SCALISE IN CRITICAL CONDITION AFTER GUNMAN OPENS FIRE ON CONGRESSIONAL BASEBALL TEAM PRACTICE

A lone gunman who was reportedly distraught over President Trump’s election opened fire on Republican members of the congressional baseball team at a practice field in this Washington suburb on Wednesday, using a rifle to shower the field with bullets that struck four people, including Steve Scalise, the majority whip of the House of Representatives.

Read More at NY Times Here

Read More at CNN Here

Read More at Washington Post Here

U.S. CRUDE DROPS TO SEVEN MONTH LOW ON U.S. INVENTORY REPORT

Oil prices dropped to their lowest settlement in seven months Wednesday, after U.S. government data showed a smaller-than-expected weekly decline in domestic supplies and an increase in gasoline stockpiles and crude production.

“In the midst of summer driving season and typical high demand period the [supply] build in products shows overall weakness,” said John Macaluso, an analyst at Tyche Capital Advisors.

Read More at MarketWatch Here

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Closing Bell

– Wednesday, June 14th

Markets See Mixed Finish After Fed Increase, Oil Drop

Big Insider Trades

– Affiliated Managers Group, Inc. (AMG) CEO Sean Healey Sells $9m

– American Assets Trust, Inc. (AAT) CEO Ernest Rady Buys Another $750k