US stocks moving higher following of Fed rate hike

U.S. stocks were moving higher in afternoon trading Wednesday following the Federal Reserve's widely expected decision to raise short-term interest rates for the third time this year. The central bank also said that the U.S. economy was on sound footing. Health care, technology and industrials stocks accounted for much of the market's gains. Banks lagged the broader market.

Smaller-company stocks notched some of the biggest gains after the GOP leadership in the House and Senate reached a deal on a tax package.

KEEPING SCORE: The Standard & Poor's 500 index rose 5 points, or 0.2 percent, to 2,669 as of 3:08 p.m. Eastern Time. The Dow Jones industrial average gained 129 points, or 0.5 percent, to 24,634. The Nasdaq added 25 points, or 0.