One of Wall Street's biggest theories about higher interest rates is about to be tested

Chip Somodevilla/Getty Higher interest rates are supposed to be bad for stocks. But are they now? On Wednesday, the Federal Reserveraised its benchmark rate for the third time in this recoveryand signaled that three more hikes are on the way in 2017. Higher rates increase borrowing costs for companies and make it harder for them to access funds they need to expand. Theyalso impact consumers, who may cut discretionary spending, meaning less US revenues for companies. These are long-held theories ...