U.S. stocks rally on Feds news

U.S. Stocks Advance Amid Fed Minutes

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  • U.S. stocks rally as members of the Federal Reserve gave signs from their April meeting that they will not raise interest rates anytime soon.
  • The Dow Jones Industrial Average rallied 158.75 points, or 1%, to 16533.06. The S&P 500 index climbed 15.20 points, or 0.8%, to 1888.03 and the Nasdaq Composite Index added 34.65 points, or 0.8%, to 4131.54.
  • The central bank pared its monthly asset buying to $45 billion in April, its fourth straight $10 billion cut.
  • All 10 main industries in the S&P 500 rose today, with consumer-discretionary and energy companies gaining at least 1 percent for the biggest advances.
  • Oil for July delivery topped $104 a barrel on Wednesday to settle at their highest level in a month after a U.S. government report showed a drop in weekly crude inventories that was much bigger than the market expected.
  • Gold for June delivery lower on Wednesday, fell to settle at $1,288.10 a troy ounce. at their lowest close in early two weeks, as a climb in U.S. equities lured investors away from the precious metal.

Categories: Equity Capital Markets

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