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published on May 23, 2018 - 2:16 PM
Written by Associated Press

U.S. stocks turned higher and finished with small gains after the Federal Reserve indicated it’s not in a hurry to raise interest rates too quickly.

Retailers and technology companies led the way Wednesday.

Lowe’s jumped 10.4 percent after turning in a strong quarter. Microsoft climbed 1.2 percent.

Stocks fell in the morning but turned higher after the Fed released minutes from its latest meeting suggesting that it would keep raising interest rates gradually.

The S&P 500 index rose 8 points, or 0.3 percent, to 2,733.

The Dow Jones industrial average rose 52 points, or 0.2 percent, to 24,886.

The Nasdaq composite rose 47 points, or 0.6 percent, to 7,425.

Bond prices rose. The yield on the 10-year Treasury fell to 3.01 percent.


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