Mixed close on Wall Street as Fed raises rates

By Ovunc Kutlu

NEW YORK

Wall Street closed mixed Wednesday after the Federal Reserve made its second rate hike this year.

The central bank increased its benchmark interest rate by 25 basis points as expected, but the move helped to push stocks lower.

The S&P lost two points to finish the day at 2,437 and the Nasdaq fell 25 points to 6,194.

A jump in the stocks of retailers, however, pushed the Dow higher -- up 46 points to a record close of 21,374.

Retail giants Macy's and Home Depot each saw their shares increase by about 2 percent.