TIME Markets

Markets Rally on News From the Fed

A transcript of the Federal Reserve’s last session quelled fears among investors that the central bank could soon raise interest rates

Stocks in the United States climbed Wednesday, building on recent gains as investors were reassured that the Federal Reserve won’t be raising interest rates any time soon. Policymakers agreed to scrap an a trigger that would have raised interest rates if unemployment fell to a certain point.

The Dow Jones Industrial Average rose 181.04 points to close at 16,437.18, for a gain of 1.11%. The S&P 500 climbed 20.22 points to 1,872.18 while the NASDAQ rocketed 70.91 points, or 1.72%, to close at 4,183.90.

More than two stocks increased in price for every one that dropped in the New York Stock Exchange, CNBC reports. The Nasdaq climbed into the positive for the year, reversing losses from his worst three-day performance since 2011.


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