US STOCKS-Wall St edges higher as Fed decision looms


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    * AT&T most traded stock after ruling
    * U.S. producer prices rise more than expected in May
    * Healthcare gains, telecoms lag on S&P
    * Indexes up: Dow 0.05 pct, S&P 0.13 pct, Nasdaq 0.56 pct

 (Changes comments, adds details, updates prices)
    By Sruthi Shankar
    June 13 (Reuters) - U.S. stocks inched higher on Wednesday,
as investors awaited a widely expected interest rate hike by the
Federal Reserve and its guidance on the monetary policy.
    Media stocks were under the spotlight after a court approved
AT&T's  T.N  $85 billion deal to buy Time Warner  TWX.N . 
    Shares of the HBO channel owner rose 2.6 percent. However,
AT&T dropped 5.4 percent, sending the S&P telecom services index
 .SPLRCL  down 3.75 percent to its biggest single-day fall in
nearly four months.
    A rate hike of a quarter percentage point is priced in by
the market participants, who will parse the statement for clues
on whether the Fed will raise rates three or four times this
year. The announcement is due at 2:00 p.m. ET.*:nL1N1TD1NR
    "The uncertainty is whether or not the Fed talks about some
of the political stuff going on in DC and concerns about trade,"
said Willie Delwiche, investment strategist at Robert W. Baird
in Milwaukee.
    "If they were just about what's going on in the economy,
then it would be talking about a fourth rate hike, so the
market's prepared for that."
    According to the CME Group's Fedwatch tool, traders are
equally split about a fourth rate hike in December.
    A Labor Department report showed U.S. producer prices
increased more than expected in May, leading to the biggest
annual increase in nearly 6-1/2 years, but underlying producer
inflation remained moderate.*:nLNSDHEEEN
     At 11:46 a.m. ET the Dow Jones Industrial Average  .DJI 
was up 13.91 points, or 0.05 percent, at 25,334.64, the S&P 500
 .SPX  was up 3.76 points, or 0.13 percent, at 2,790.61 and the
Nasdaq Composite  .IXIC  was up 43.45 points, or 0.56 percent,
at 7,747.24.
    Other media stocks that got lift from the ruling include
Twenty-First Century Fox  FOXA.O , which surged 7.5 percent as
Comcast Corp  CMCSA.O  is expected to outbid Disney  DIS.N  for
some of its assets.
    Stryker  SYK.N  jumped 4.3 percent after the medical device
maker said it was not in talks to buy rival Boston Scientific
 BSX.N , days after a media report on a potential deal between
the two companies.*:nL4N1TF44C
    Netflix  NFLX.O  rose 2.5 percent after Goldman Sachs
forecast that 2018 would be the peak negative-free cash flow
year for the company.*:nFWN1TF09I
     Declining issues outnumbered advancers for a 1.24-to-1
ratio on the NYSE. Advancing issues outnumbered decliners by a
1.35-to-1 ratio on the Nasdaq.
    The S&P index recorded 40 new 52-week highs and two new
lows, while the Nasdaq recorded 138 new highs and 18 new lows.  

 (Reporting by Sruthi Shankar in Bengaluru; Editing by Anil
 ((; within U.S. +1 646 223
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