Stocks Get Slight Lift From Fed Minutes
NEW YORK (TheStreet) -- Stocks finished modestly higher Tuesday after minutes from the Federal Reserve's last policy-setting meeting suggested another round of quantitative easing might arrive sooner rather than later.
The Dow Jones Industrial Average rose by 10 points, or 0.1%, to 11,020. The blue-chip index's high for the session was 11,053. The S&P 500 advanced 4 points, or 0.4%, to 1,169, while the Nasdaq closed up 16 points, or 0.6%, at 2,417.
Meanwhile, the dollar traded lower against a basket of currencies following the release of the minutes, with the dollar index down by 0.2%. The benchmark 10-year Treasury note weakened 10/32, raising the yield to 2.429%.
A new program to pump up the economy through the purchase of government debt was the focus of the debate in the closed-door meeting. However, officials did not settle on how big any stimulus program would be or how it would be structured. There were also disagreements among the members of the Federal Open Market Committee related to the timing of the move. Discussions of possible policies centered on longer-term securities.
|Federal Reserve Chairman Ben Bernanke|
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