US STOCKS-Wall St rises after release of 'dovish' Fed minutes

jueves 8 de octubre de 2015 16:48 GYT
 

* Stocks rise after investors see dovishness in Fed minutes

* Energy sector leads advancers as oil rallies to three-month high

* Alcoa kicks off earnings season with revenue decline

* Indexes up: Dow 0.82 percent, S&P 0.88 percent, Nasdaq 0.41 percent (Updates to close of trading, adds commentary)

By Sinead Carew

Oct 8 (Reuters) - U.S. stocks ended higher on Thursday with the S&P 500 closing at a seven-week high as investors saw further signs of dovishness in the Federal Reserve's September meeting minutes which shed light on its decision to keep interest rates near zero.

The minutes showed the U.S. central bank thought the economy was close to warranting a rate hike but decided it was prudent to wait for evidence a global economic slowdown was not knocking the United States off course.

While the initial reaction was muted, stocks gained ground as the session wore on. Strategists said the minutes showed less inclination for a rate hike and no unforeseen worries in the Fed's view of the U.S. economy.

"You've got an absence of bad news and arguably some good news in there," said Brad McMillan, Chief Investment Officer for Commonwealth Financial in Waltham, Mass. "Given the news since then, if they were willing to wait then for inflation to come back they're even more willing now."   Continuación...