US Stocks Close Higher
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iStock/Thinkstock(NEW YORK) — Stocks moved sharply higher Wednesday on encouraging news about interest rates and as corporate earnings got off to a good start.
The Dow Jones Industrial Average closed up 181 points at 16,437.18. The Nasdaq Composite rose 71 points to end the day at 4,183.90. The S&P 500 added 20 points for the session, closing at 1,872.18.
It was the Dow’s best point gain since March 17, and the best for the Nasdaq and the S&P since March 4.
Alcoa led a rally in companies that make what’s known as “basic materials.” The aluminum giant rose 4 percent after its earnings came in better than expected. “Basic materials” are raw material or feedstock from which goods and finished products are manufactured or made.
Investors Wednesday were also reassured by the minutes from the Federal Reserve’s latest meeting. The Central Bank says it has no plans to increase interest rates in the near future.
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