Stocks End Higher After Fed News

Fed indicates it will keep raising interest rates gradually
By Newser Editors and Wire Services
Posted May 23, 2018 3:11 PM CDT
Stocks End Higher After Fed News
Specialist Robert Tuccillo, center, works with traders at his post on the floor of the New York Stock Exchange, Tuesday, May 22, 2018.   (AP Photo/Richard Drew)

US stocks turned higher and finished with small gains after the Federal Reserve indicated it's not in a hurry to raise interest rates too quickly, the AP reports. Retailers and technology companies led the way Wednesday. Lowe's jumped 10.4% after turning in a strong quarter. Microsoft climbed 1.2%. Stocks fell in the morning but turned higher after the Fed released minutes from its latest meeting suggesting that it would keep raising interest rates gradually. The S&P 500 index rose 8 points, or 0.3%, to 2,733. The Dow Jones industrial average rose 52 points, or 0.2%, to 24,886. The Nasdaq composite rose 47 points, or 0.6%, to 7,425. (More stock market stories.)

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