Stocks are closing higher on Wall Street Wednesday following the release of minutes from the Federal Reserve’s most recent policy meeting.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq all finished the day in the green after a choppy day of trading. Minutes from the two-day meeting last month show that Fed officials concluded higher interest rates could be needed to restrain what they saw as a worrying trend: consumers starting to anticipate higher inflation. Bond yields rose.
On Wednesday:
The S&P 500 rose 13.69 points, or 0.4%, to 3,845.08.
The Dow Jones Industrial Average rose 69.86 points, or 0.2%, to 31,037.68.
The Nasdaq rose 39.61 points, or 0.3%, to 11,361.85.
The Russell 2000 index of smaller companies fell 13.78 points, or 0.8%, to 1,727.55.
For the week:
The S&P 500 is up 19.75 points, or 0.5%.
The Dow is down 59.58 points, or 0.2%.
The Nasdaq is up 234.01 points, or 2.1%.
The Russell 2000 is down 0.21 points, or less than 0.1%.
For the year:
The S&P 500 is down 921.10 points, or 19.3%.
The Dow is down 5,300.62 points, or 14.6%.
The Nasdaq is down 4,283.12 points, or 27.4%.
The Russell 2000 is down 517.77 points, or 23.1%.
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