U.S. Stock Rally Remains Intact After Beige Book

By Sue ChangMarketWatch Pulse

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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