U.S. stocks rise amid Fed minutes

0 Comment(s)Print E-mail Xinhua, May 26, 2022
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NEW YORK, May 25 (Xinhua) -- U.S. stocks climbed on Wednesday as investors digested the latest meeting minutes from the Federal Reserve.

The Dow Jones Industrial Average rose 191.66 points, or 0.60 percent, to 32,120.28. The S&P 500 added 37.25 points, or 0.95 percent, to 3,978.73. The Nasdaq Composite Index increased 170.29 points, or 1.51 percent, to 11,434.74.

Nine of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and energy up 2.78 percent and 1.96 percent, respectively, outpacing the rest. Utilities and health care dipped 0.06 percent and 0.02 percent, respectively, the only two declining groups.

The minutes from the Fed's May 3-4 meeting released on Wednesday signaled further rate hikes in an effort to battle the hottest price pressures in 40 years.

"Most participants judged that 50 basis point increases in the target range would likely be appropriate at the next couple of meetings," the minutes said.

The filing also showed Fed officials attentive to financial conditions as they prepare to raise rates further.

U.S. equities markets have been quite volatile recently as investors have grown concerned that the central bank could cause a recession if it raises rates too high or too quickly.

Earlier this month, the Fed announced a half-point increase in its benchmark rate, the sharpest rate hike since 2000. Enditem

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