Wall Street Posts Gains After Fed Minutes Show Possible Slower Increase in Interest Rates
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tarabird/iStock/Thinkstock(NEW YORK) — With the minutes from the most recent meeting of the Federal Reserve’s Federal Open Market Committee hinting that increased interest rates may be implemented more slowly, the market closed an up-and-down day with gains.
The Dow Jones Industrial Average gained 26.69 to a close of 17,902.11.
The Nasdaq finished the session up 40.59 at 4,950.82, while the S&P 500 finished trading at 2,081.87, 5.54 higher than its open.
The FOMC met last month to discuss, among other things, the eventual increase of interest rates. Rates have remained low since December 2008.
The minutes of that meeting, released Wednesday, showed that while some felt the increase could come in June, others felt that the economy may not support such an increase until 2016.
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