Wall Street rallies after Fed minutes

Reuters
A trader looks at a screen as he works on the floor of the New York Stock Exchange shortly after the opening of markets in New York, September 4, 2013. REUTERS/Lucas Jackson/Files
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A trader looks at a screen as he works on the floor of the New York Stock Exchange shortly after the …

NEW YORK (Reuters) - U.S. stocks jumped on Wednesday, with the three major indexes hitting session highs after the minutes from the Federal Reserve's latest policy meeting showed a more supportive central bank than previously expected.

"People are taking solace in the idea that the Fed may be more accommodative than previously thought, for longer than previously thought," said Steve Sosnick, equity-risk manager at Timber Hill/Interactive Brokers Group in Greenwich, Connecticut.

"That's giving the lift to stocks."

The Dow Jones industrial average rose 129.92 points or 0.8 percent, to 16,386.06. The S&P 500 gained 13.93 points or 0.75 percent, to 1,865.89. The Nasdaq Composite added 52.001 points or 1.26 percent, to 4,164.988.

(Reporting by Rodrigo Campos and Ryan Vlastelica; Editing by Jan Paschal)

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