U.S. Stocks Rally To Close Higher On Fed Rate-hike View

U.S. stocks closed higher Wednesday, swinging off notable lows, after the Federal Reserve indicated a more gradual view concerning rate hikes this year. The Dow Jones Industrial Average surged 227.11 points, or 1.3%, to close at 18,076.19, after being down nearly 200 points earlier in the session. The S&P 500 Index rallied 25.07 points, or 1.2%, to finish at 2,099.35. The Nasdaq Composite Index surged 45.39 points, or 0.9%, to close at 4,982.83.