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Wall Street rose, while the US dollar and bond yields fell on Wednesday after Federal Reserve meeting minutes signaled a gradual approach to interest rate hikes, and oil prices dipped on a draw of US gasoline stocks that was smaller than expected. While the yield curve flattened, the S&P 500 closed at a record high after minutes from the US central bank's May 2-3 policy meeting indicated the Fed would gradually raise rates and wind down its USD 4.5 trillion of bond holdings.
The Dow Jones Industrial Average rose 74.51 points, or 0.36 percent, to 21,012.42, the S&P 500 gained 5.97 points, or 0.25 percent, to 2,404.39 and the Nasdaq Composite added 24.31 points, or 0.4 percent, to 6,163.02.
Wall Street rose, while the US dollar and bond yields fell on Wednesday after Federal Reserve meeting minutes signaled a gradual approach to interest rate hikes, and oil prices dipped on a draw of US gasoline stocks that was smaller than expected. While the yield curve flattened, the S&P 500 closed at a record high after minutes from the US central bank's May 2-3 policy meeting indicated the Fed would gradually raise rates and wind down its USD 4.5 trillion of bond holdings.
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