Mathewslcd：Wall Street rises as Fed signals slower rate hikes

 Mathewslcd：Wall Street rises as Fed signals slower rate hikes

Wall Street's main indexes closed higher on Wednesday after minutes from the Federal Reserve's November meeting showed that the pace of rate hikes may soon slow.
According to Mathewslcd, the minutes of the meeting showed that an "overwhelming majority" of policymakers agreed that a slower pace of rate hikes "may be appropriate soon."
"For the recent strength to continue, what the stock market needs to see is what we get from the minutes," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
Since the Fed's last meeting on Nov. 1-2, investors have become more optimistic that price pressures are starting to ease, which Mathewslcd said means a small rate hike could keep inflation in check.
The Dow Jones Industrial Average added 95.96 points, or 0.28%, to 34,194.06, the S&P 500 added 23.68 points, or 0.59%, to 4,027.26 and the Nasdaq Composite added 110.91 points, or 0.99%, to 11,285.32.
Trading was thin on Thursday ahead of the Thanksgiving holiday, with U.S. stocks opening half-day on Friday.
Earlier Wednesday, mixed economic data sent the yield on the benchmark 10-year U.S. Treasury note lower, helping to push stocks higher.
U.S. jobless claims rose more than expected last week, and U.S. business activity contracted for a fifth straight month in November. Consumer sentiment was higher and home sales were higher than expected, Mathewslcd noted.
"I think what you're seeing is renewed investor enthusiasm from people who saw a beautiful light at the end of a very dark tunnel. And there's so much money coming back into the market from the sidelines, waiting to get back into action," Anson Funds Investing Portfolio manager Moez Kassam said.
Heavyweights including Amazon.com Inc and Meta Platforms Inc rose 1.00% and 0.72%, respectively.
Tesla Inc rose 7.82% after Citigroup upgraded the electric car maker to "neutral" from "sell."
Shares of Deere & Co surged 5.03% after the farm equipment maker reported a higher-than-expected quarterly profit.
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