Midday Report: Credit Suisse Downgrades Intel; Wall Street Waits For Fed Rate Hike

Wall Street rose in anticipation of an interest rate hike from the Federal Reserve later in the day. More importantly, investors are keen to assess how quickly the Fed expects to raise rates over the rest of the year. Crude oil rallied after seven straight days of losses. Prices got a boost mid-morning after a weekly reading on domestic stockpiles showed a surprise decrease. That marked the first drop in ten weeks. Homebuilder sentiment rose to a 12-year high in March, according to the National Association of Home Builders' confidence index. The measure increased to its highest level since June 2005. Intel (INTC) - Get Report fell after Credit Suisse downgraded its rating to NEUTRAL from OUTPERFORM. Analysts said shares were too expensive right now, even though they approved the recent purchase of Mobileye (MBLY) .