S&P 500 rises for third straight session as Fed restates commitment to bringing down inflation; European stocks close 1.7% higher; Just Eat Takeaway up over 15% on Amazon deal
U.S. stocks moved slightly higher on Wednesday as investors pored over the latest minutes from the Federal Reserve.
The Dow Jones Industrial Average gained 69.86 points, or 0.23%, to 31,037.68. The S&P 500 added 0.36% to 3,845.08. The tech-centric Nasdaq Composite rose 0.35% to close at 11,361.85.
Stocks bounced after the Federal Reserve released the minutes from its June meeting, showing that the central bank was committed to bringing down inflation. Fed members said the meeting on July 26 and 27 likely also would see another 50- or 75-basis point move, the minutes showed. A basis point is one one-hundredth of 1 percentage point.
Energy stocks were some of the worst performers on the day, as oil prices continued their recent slide. Shares of Chevron slipped 1.3%, and Diamondback Energy fell 3.4%.
The pan-European Stoxx 600 provisionally closed up by 1.7%, with tech, media and retail shares climbing over 3% to lead gains as almost all sectors and major bourses ended in positive territory.
Just Eat Takeaway shares surged over 15% after Amazon agreed to take a 2% stake in its U.S. subsidiary GrubHub in order to give access to its Prime members.
French utility EDF, meanwhile, climbed more than 14% after the French government said it would nationalize 100% of the company.
Source: CNBC, Investing.com