The U.S. stock market surged on Wednesday, erasing a steep loss from the day before. Investors were reacting to minutes from the Federal Reserve’s latest policy meeting, which showed that the central bank wants to keep interest rates extremely low for the time being.
The Dow Jones industrial average jumped 274.83 points, or 1.6 per cent, to 16,994.22.
The Standard & Poor’s 500 index added 33.79 points, or 1.8 per cent, to 1,968.89.
The Nasdaq composite rose 83.39 points, or 1.9 per cent, to 4,468.59.
For the week:
The Dow Jones industrial average is down 15.47 points, or 0.09 per cent.
The Standard & Poor’s 500 index is up 0.99 points, or 0.05 per cent.
The Nasdaq composite is down 7.03 points, or 0.2 per cent.
For the year:
The Dow is up 417.56 points, or 2.5 per cent.
The S&P 500 index is up 120.53 points, or 6.5 per cent.
The Nasdaq is up 292 points, or 7 per cent.