US STOCKS SNAPSHOT-Market rallies after dovish Fed minutes
NEW YORK Oct 8 (Reuters) - U.S. stocks rose sharply in afternoon trading on Wednesday after minutes from the latest Federal Reserve meeting were perceived to be more supportive of equities than anticipated.
"The minutes had a dovish slant in that they acknowledged a growth slowdown and the possibility of the dollar strength weighing on U.S. companies," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.
The Dow Jones industrial average rose 192.69 points, or 1.15 percent, to 16,912.08, the S&P 500 gained 21.81 points, or 1.13 percent, to 1,956.91 and the Nasdaq Composite added 53.11 points, or 1.21 percent, to 4,438.31.
(Reporting by Rodrigo Campos; Editing by Nick Zieminski)
© Thomson Reuters 2016 All rights reserved.