Investors Mull Rates as Takeover Bid for Family Dollar Gets Hostile

Major U.S. Markets moved slightly higher at the opening bell Wednesday. Investors are still concerned if there will be a rate hike earlier than expected. Mortgage applications dropped 7.2 percent last week from the week before. The Mortgage Bankers Association said applications to refinance fell 11 percent and purchase loans are down 3 percent from a week earlier. The European Union is meeting today on putting tougher sanctions on Russia. The group will weigh Putin's truce regarding the fragile ceasefire in Ukraine. The bid for Family Dollar Stores (FDO) has gone hostile. Dollar General (DG) has gone directly to shareholders on its takeover offer. Family Dollar has rejected Dollar General's attempt buy it twice and has been proceeding with plans to be bought by its other rival Dollar Tree (DLTR). Krispy Kreme Doughnuts (KKD) is down in early trading. Investors are focusing more on the chain missing earnings over beating revenue estimates.