S&P 500, Nasdaq Hold Gains After Fed Minutes

By Anora Mahmudova Markets MarketWatch Pulse

U.S. stocks held on to modest gains on Wednesday after the minutes from the Federal Reserve's latest policy meeting highlighted the plan to begin the process of shrinking the central bank's balance sheet later this year. The policy makers also indicated eagerness to raise interest rates at least once more in 2017. The Fed also seemed confident that inflation will recover after recent soft readings. The S&P 500 was up by 4 points, or 0.2%, to 2,433. The Dow Jones Industrial Average was flat at 21,473. The Nasdaq Composite index advanced 40 points, or 0.7%, to 6,150.

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