U.S. Stocks Rally After Fed Minutes Point To December Rate Hike

U.S. stocks rose sharply on Wednesday after the minutes from the Federal Reserves October policy meeting confirmed that most participants were eager to begin raising interest rates in December. The main indexes booked most of their solid gains in the final two hours of trading. All 10 main sectors on the S&P 500 closed higher, with health-care and financials leading gainers. The S&P 500 closed 33.14 points, or 1.6%, higher at 2,083.58, its biggest gain in four weeks. The Dow Jones Industrial Average climbed 247.66 points, or 1.4%, to 17,737.16. The Nasdaq Composite ended the day up 89.19 points, or 1.8%, at 5,075.20.

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