Cablevision, Liberty Pop on Cable M&A; Fed Says June Hike Unlikely

Cablevision (CVC) topped the S&P 500 and Liberty Global (LBTYA) boosted the Nasdaq on speculation of further M&A activity in the cable industry after French company Altice bought U.S. cable group Suddenlink for just over $9 billion. The airline sector was significantly lower on Wednesday as industry watchers speculate carrier growth could outpace travel demand. Southwest Airlines (LUV) was the worst performer on the S&P 500 while American Airlines (AAL) bottomed out the Nasdaq. A June rate hike is looking unlikely after the majority of Fed members said recent data did not meet its targets in its April meeting minutes.