Stocks Rise Ahead of Fed Decision

Apple invests in a laser chipmaker, while Target acquires a tech startup.
Author:
Publish date:

U.S. stocks traded higher on Wednesday, Dec. 13 as investors anticipated the latest monetary policy from the Federal Reserve.

Shares of Finisar Corp. (FNSR) - Get Report soared some 30% after Apple Inc. (AAPL) - Get Report invested $390 million in the laser chipmaker. Finisar is Apple's second-largest supplier of the laser technology that Apple uses for facial-recognition capabilities in the iPhone X.

Target Corp. (TGT) - Get Report stock jumped after purchasing tech startup Shipt for $550 million on Wednesday. The retailer expects to be able to offer same-day delivery at about half of its 1,800 stores by next summer. The full rollout will hit all of its stores by next year's holiday season.

Watch More with TheStreet: