The Fed is widely seen as raising its target interest rate by a quarter of a percentage point in its first policy meeting of the year, after the rapid increases in 2022 to tame decades-high inflation. Bucking the recent nervousness among chipmakers, Advanced Micro Devices IncAMD.O added 3.4% after projecting that it expects its business to improve in the second half of the year, boosting hopes that it is gaining on rival Intel Corp INTC.O. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.