Wall Street closes higher after Fed minutes

Frankfurt After two turbulent days of trading, some confidence has returned to the US stock market. The most important indices closed on Wednesday, some quite clearly in the black. At least the minutes of the US Federal Reserve Bank’s most recent meeting of the Monetary Policy Committee did not give rise to expectations that the Fed would take a tougher stance than expected in order to combat high inflation. On the contrary, stockbrokers saw indications that the central bank could take a slightly less strict course after an initial phase of larger rate hikes towards the end of the year.

The leading index Dow Jones Industrial went 0.60 percent higher at 32,120 points from trading. The market-wide S&P 500 went up 0.95 percent to 3979 points. The tech-heavy Nasdaq 100 rose 1.48 percent to 11,944 points.