U.S. stocks rose at the open on Thursday after investors shook off the hawkishly interpreted minutes from the Federal Reserve’s most recent gathering. The S&P 500 advanced 9 points, or 0.4%, to 2,711. The Dow Jones Industrial Average climbed 112 points, or 0.5%, to 24,910. The Nasdaq Composite Index picked up 38 points,or 0.5%, to 7,257. After the release of the minutes from the January Federal Open Market committee meeting, investors sold bonds and stocks without discrimination on fears that senior central bankers were penciling in a steeper rate hike trajectory, lifting yields on U.S. government paper. Bond prices fall when yields rise. Ebullient comments on the economic and inflation outlook from the minutes also added evidence to the hawkish take of the meeting.
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From:: Stock Market News