US STOCKS-Wall St ends higher after Fed minutes; Dow's best day in a month

miércoles 21 de mayo de 2014 16:36 GYT
 

* Fed begins policy exit talks, split on view of U.S. job market

* Tiffany shares rally after results

* Indexes up: Dow 1 pct, S&P 0.8 pct, Nasdaq 0.9 pct (Updates to close)

By Angela Moon

NEW YORK, May 21 (Reuters) - U.S. stocks rose on Wednesday, rebounding from the previous day's broad selloff, after minutes of the Federal Reserve's last meeting showed central bankers have discussed the eventual tightening of monetary policy but made no decisions on which tools to use.

The Dow Jones industrial average rose 1 percent, its biggest daily percentage jump since mid-April. Goldman Sachs was the top gainer on the blue chip index, up 1.9 percent at $159.35.

Minutes of the Fed meeting showed the Fed staff presented several approaches to raising short-term interest rates, but said the discussion was simply "prudent planning" and not a sign rate hikes would come any time soon.

"The minutes are in line with what investors are thinking, which is that we see a rebound in growth but it is not to a point where the economy looks overly strong," said Robert Pavlik, chief market strategist at Banyan Partners LLC in New York.

The Dow Jones industrial average rose 158.75 points or 0.97 percent, to 16,533.06, the S&P 500 gained 15.2 points or 0.81 percent, to 1,888.03 and the Nasdaq Composite added 34.65 points or 0.85 percent, to 4,131.54.   Continuación...