Thursday, August 28, 2014   

US stocks bounce on dovish Fed minutes
(04-10 10:42)

Wall Street stocks Wednesday bolted higher. Tech equities led the way after US Federal Reserve minutes showed no support for an early rise in interest rates.
The Dow Jones Industrial Average jumped 181.04 (1.11 percent) to 16,437.18.
The broad-based S&P 500 advanced 20.22 (1.09 percent) to 1,872.18, while the tech-rich Nasdaq Composite Index soared 70.91 points (1.72 percent) to 4,183.90.
Stocks were higher through early afternoon, but rose more after the Fed minutes were released. The minutes, as expected, showed the US central bank foresees continuing the steady cutback to its stimulus program.
But they also showed there was not a groundswell of Fed powerbrokers who supported a speedy rise to benchmark interest rates.—AFP

   
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