US stocks end higher after Fed minutes

Published: October 12, 2017 12:31:50 | Updated: October 24, 2017 21:43:57


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US stocks rose on Wednesday as the minutes from the Federal Reserve’s September policy meeting merely confirmed expectations that interest rates would rise.

Currency investors pushed the dollar to a two-week low against a basket of currencies, as they also eyed signs of inflation concerns at the Fed, reports Reuters.

The Fed minutes showed policymakers in a prolonged debate about the prospects of a pickup in inflation and the path of future interest rate rises if inflation did not rise.

The dollar index fell 0.34 per cent. The euro EUR= rose 0.4 per cent to $1.1857.

The Dow Jones Industrial Average rose 42.21 points, or 0.18 per cent, to 22,872.89, the S&P 500 gained 4.6 points, or 0.18 per cent, to 2,555.24, and the Nasdaq Composite added 16.30 points, or 0.25 per cent, to 6,603.55.

US Treasuries were little changed after the Fed minutes and after the Treasury Department saw solid demand for three-year and 10-year note supply.

Benchmark 10-year notes US10YT=RR last fell 3/32 in price to yield 2.3535 per cent, from 2.345 per cent late on Tuesday.

The 30-year bond US30YT=RR last fell 4/32 in price to yield 2.8864 percent, from 2.881 per cent late on Tuesday.

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