Dow scores biggest gain of 2014 on Fed minutes
Minutes showed little change from the Fed’s previous statements.
The whipsaw ride on Wall Street continued Wednesday as the Dow Jones industrial average scored its biggest gain of the year when the release of the minutes of the Federal Reserve’s September meeting showed little change from its previous statements.
The release of the Fed minutes sparked a powerful rally that by the close had the Dow, Standard & Poor’s 500 index and Nasdaq composite index finishing with gains ranging from 1.6% to 1.9%.
The Dow jumped 274.83 points, or 1.6%, to 16,994.22 — erasing all of a 273-point dive Tuesday that dropped the blue-chip average to its lowest level since mid August.
The S&P 500 was up 33.79 points, or 1.8%, to 1968.89 and the Nasdaq gained 83.39 points, or 1.9%, to 4468.59.
The strong performance in the U.S. reversed a trend of losses in major markets elsewhere around the globe.
Source: Usatoday– Dow scores biggest gain of 2014 on Fed minutes
