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Market Update

Despite higher rate talk from the Fed, a late push sends US stocks higher; Bond yields rise

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FILE - This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. U.S. stocks are opening lower Wednesday, Aug. 20, 2014, after two straight days of gains. (AP Photo/Richard Drew, File) (The Associated Press)

A late round of buying is leaving stock indexes mostly higher.

Bond prices fell, sending yields higher, on word that Federal Reserve policymakers were leaning toward raising interest rates.

The Dow Jones industrial average rose 59 points, or 0.4 percent, to close at 16,979 Wednesday.

The Standard & Poor's 500 rose four points, or 0.3 percent, to 1,986. The Nasdaq was flat at 4,526.

The S&P 500 is just one point below its record high close from July 24.

J.M. Smucker fell 1 percent after the food company cut its full-year sales outlook.

Bond prices fell after the Federal Reserve released minutes from its latest policy meeting which revealed that many policymakers were pushing to raise interest rates.

The yield on the 10-year Treasury note rose to 2.43 percent.