The Fed is draining liquidity from markets for longer than expected. Here’s why it’s making Wall Street nervous.

U.S. stocks are rising Thursday after the Federal Reserve cut interest rates for a second straight time, just as investors had expected.

U.S. stock index futures rose on Monday, extending post-election gains, while investors awaited the next batch of economic data that could decide whether the equity rally can sustain itself. Several stocks that rose following the U.