US STOCKS-Wall St rises after release of 'dovish' Fed minutes
* Stocks rise after investors see dovishness in Fed minutes
* Energy sector leads advancers as oil rallies to 5-week high
* Indexes up: Dow 0.73 pct, S&P 0.79 pct, Nasdaq 0.34 pct (Updates to late afternoon, adds commentary)
By Sinead Carew
Oct 8 (Reuters) - U.S. stocks gained ground on Thursday after the Federal Reserve released minutes from its September meeting at which the U.S. central bank decided against raising interest rates for now.
The minutes showed that the Fed thought the economy was close to warranting an interest rate hike in September but decided it was prudent to wait for evidence a global economic slowdown was not knocking America off course.
While the initial reaction was more muted, stocks gained ground as the last hour of trading neared. Some strategists said the minutes showed less inclination for a rate hike from the Fed, which likely reassured equity investors.
"Stocks are reacting positively, and the dollar's reacting negatively to the slightly more dovish comments about near-term prospects for inflation," said Patrick Maldari, senior fixed income investment specialist at Aberdeen Asset Management in New York, on the FOMC minutes.
The Sept. 17 decision came during a period of heavy market volatility due to concerns about slowing global economic growth, particularly in China. Continuación...