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Stocks closed higher on Wall Street following the release of the minutes from the Federal Reserve’s most recent policy meeting, which showed Fed officials agreed that smaller rate hikes would likely be appropriate “soon.”
The S&P 500 rose 0.6% Wednesday, the Nasdaq added 1% and the Dow climbed 0.3%.
Deere (NYSE: DE) rose after the equipment maker reported higher earnings than analysts were expecting. Long-term Treasury yields were slightly lower. Oil prices fell, European markets closed mostly higher and Asian markets closed mixed overnight. U.S. markets will be closed Thursday for Thanksgiving and will close early on Friday.
On Wednesday:
The S&P 500 rose 23.68 points, or 0.6%, to 4,027.26.
The Dow Jones Industrial Average rose 95.96 points, or 0.3%, to 34,194.06.
The Nasdaq rose 110.91 points, or 1%, to 11,285.32.
The Russell 2000 index of smaller companies rose 3.08 points, or 0.2%, to 1,863.52.
For the week:
The S&P 500 is up 61.92 points, or 1.6%.
The Dow is up 448.37 points, or 1.3%.
The Nasdaq is up 139.25 points, or 1.2%.
The Russell 2000 is up 13.79 points, or 0.7%.
For the year:
The S&P 500 is down 738.92 points, or 15.5%.
The Dow is down 2,144.24 points, or 5.9%.
The Nasdaq is down 4,359.65 points, or 27.9%.
The Russell 2000 is down 381.80 points, or 17%.