Stocks turn higher after Fed releases minutes

stocks

NEW YORK (AP) — The stock market is turning higher in afternoon trading after minutes from the Federal Reserve’s latest policy meeting showed that the central bank was not about to pull away its support for the economy.

The Dow Jones industrial average was up 33 points, or 0.2 percent, to 15,333 as of 2:20 p.m. Eastern Daylight Time Wednesday, twenty minutes after the Fed’s report was released. Shortly before, it was down 27 points.

The Standard & Poor’s 500 index rose four points, or 0.3 percent, to 1,656. The Nasdaq was up 16, or 0.5 percent, at 3,521.

Stocks have risen for four days as investors shrugged off concerns that the Fed is close to cutting back on its bond-buying program.

The yield on the 10-year Treasury note was flat at 2.64 percent.

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