Dow Ends Day Up 198

A late afternoon rally is leaving the stock market solidly higher at the closing bell as traders get more comfortable with the prospect of higher US interest rates. Stock indexes had wobbled in mid-afternoon trading Wednesday shortly after the Federal Reserve released a policy statement saying it would consider raising rates at its December meeting. Bond prices fell, sending yields higher, and the dollar appreciated against the yen and the euro as traders anticipated higher US interest rates. The price of oil soared, sending energy stocks higher. The Dow Jones industrial average rose 198 points, or 1.1%, to 17,779. The Standard & Poor's 500 index rose 24 points, or 1.2%, to 2,090. The Nasdaq composite rose 65 points, or 1.3%, to 5,095. (More Dow Jones stories.)