US stocks waver after Fed officials indicate an increase to rates is possible this year

U.S. stocks declined after Federal Reserve officials indicated potential interest rate hikes this year, with the S&P 500 falling 0.6% and the Dow Jones Industrial Average dropping 0.2%. Treasury yields rose as nine Fed policymakers projected at least one rate increase, while La-Z-Boy shares surged 19.1% on strong earnings and optimism about consumer spending was tempered by high inflation concerns.