Stocks mostly rise following meeting of Trump, Kim

bank to raise its benchmark rate by a quarter of a percentage point to a range of 1.75 percent to 2 percent. However, investors’ attention will focus more on how many additional rate hikes Fed officials may do this year.

The government said that U.S. consumer prices rose 0.2 percent in May, with surging gasoline costs driving much of the increase. The Labor Department said Tuesday that the consumer price index climbed 2.8 percent last month from a year earlier, putting inflation on its fastest annual pace since February 2012. But core prices — which exclude the volatile food and energy categories — have risen a milder 2.2 percent over the past 12 months.

After the market close, investors welcomed news that the $85 billion merger between AT&T and Time Warner will be allowed to go through. The Trump administration had sued to block the proposed merger and a rejection likely would have chilled possible multibillion dollar deals between 21st Century Fox and Walt Disney; Verizon and CBS; and T-Mobile and Sprint.

Following the judge’s decision, shares of Time Warner rose 4 percent and AT&T shares fell 2 percent.

Shares of electrical car company Tesla rose $10.67, or 3 percent, to $342.77 after the company announced it would lay off 9 percent of its work force in order to boost profitability.