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Stocks End Higher After Fed News

Fed indicates it will keep raising interest rates gradually
By Newser Editors and Wire Services
Posted May 23, 2018 3:11 PM CDT
Specialist Robert Tuccillo, center, works with traders at his post on the floor of the New York Stock Exchange, Tuesday, May 22, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks turned higher and finished with small gains after the Federal Reserve indicated it's not in a hurry to raise interest rates too quickly, the AP reports. Retailers and technology companies led the way Wednesday. Lowe's jumped 10.4% after turning in a strong quarter. Microsoft climbed 1.2%. Stocks fell in the morning but turned higher after the Fed released minutes from its latest meeting suggesting that it would keep raising interest rates gradually. The S&P 500 index rose 8 points, or 0.3%, to 2,733. The Dow Jones industrial average rose 52 points, or 0.2%, to 24,886. The Nasdaq composite rose 47 points, or 0.6%, to 7,425. (Read more stock market stories.)

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