U.S. Stock Rally Remains Intact After Beige Book

U.S. stocks held on to gains on Wednesday even after the Federal Reserve's Beige Book suggested increasing wage pressure. The S&P 500 rose 20 points, or 1%, to 1,933 while the Dow Jones Industrial Average climbed 193 points, or 1.2%, to 16,250. Wage pressures could push Fed officials to view an interest-rate hike more favorably as it could contribute to accelerating inflation.

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