12:20 PM EDT, 03/21/2024 (MT Newswires) -- Stocks climbed Thursday morning after the Federal Open Market Committee on Wednesday left its benchmark rate unchanged and reiterated expectations for three rate cuts in 2024.

The pace of existing home sales jumped 9.5% to a 4.38 million seasonally adjusted annual rate in February from a 4.00 million rate in January, data from the National Association of Realtors showed. A survey compiled by Bloomberg expected a fall in February to a 3.95 million rate.

In company news, the US Department of Justice and 16 states sued Apple ( AAPL ) on Thursday for allegedly violating US antitrust laws. The lawsuits allege that Apple ( AAPL ) has restricted its rivals' access to the iPhone's hardware and software features.

Elsewhere, Apple ( AAPL ) and Alphabet's Google ( GOOG ) are set to face the first probes under the European Union's Digital Markets Act, Bloomberg reported, citing people familiar with the matter. Apple ( AAPL ) stock was trading down over 3% around midday, while Alphabet shares were down roughly 1%.

Sen. Elizabeth Warren (D-Mass) called on the US Securities and Exchange Commission to investigate whether Tesla (TSLA) breached board independence regulations, the Wall Street Journal reported, citing a letter. Tesla shares were down nearly 0.6% around midday.

Institutional Shareholder Services, a proxy advisory firm, on Thursday recommended that Walt Disney ( DIS ) shareholders vote for Trian Group's nominee Nelson Peltz to join the company's board, according to media outlets. Disney ( DIS ) shares were trading up fractionally.

Reddit is indicated to start trading on New York Stock Exchange at $42 to $46 per share on Thursday, up to 35% higher than the company's initial public offering price, Bloomberg News reported Thursday.

Darden Restaurants' ( DRI ) fiscal Q3 revenue fell below analysts' expectations, and the company cut its top-line guidance for the ongoing year. Sales rose to $2.97 billion from $2.79 billion a year ago, but were below the $3.03 billion average analyst estimate on Capital IQ. Darden shares were trading down more than 6% at midday.

Price: 172.08, Change: -6.59, Percent Change: -3.69