Stocks end higher after Fed minutes reinforce expectations for smaller rate rises

U.S. stocks end higher Wednesday, gaining ground after minutes of the Federal Reserve’s early November policy meeting reinforced expectations that policy makers will shift to smaller rate increases at their December meeting. The minutes showed that a majority of policy makers thought smaller rate increases would be justified, but also noted uncertainty over how high rates would ultimately need to go to rein in inflation that continues to run hot. The Dow Jones Industrial Average
DJIA,
+0.28%
ended around 97 points higher, up 0.3%, near 34,195, according to preliminary figures, while the S&P 500
SPX,
+0.59%
rose around 24 points, or 0.6%, to finish near 4,027. The Nasdaq Composite
COMP,
+0.99%
advanced around 111 points, or 1%, to end near 11,285.