Closing Bell: Netflix Hikes Prices; Stocks Jump on Fed Minutes

Stocks broke free of range-bound trading in the final hour to rally into the close as a March rate hike grew more likely. Netflix (NFLX) boosted the S&P 500 and Nasdaq after raising the price of its streaming service by a $1 a month. The increase will apply only to new customers who sign up for a plan. Similar price increases were rolled out in Europe in August. Increased downside risks in September encouraged members to delay a rate hike last month, according to the Federal Reserve's September meeting minutes. Members said it would be 'prudent' to wait until risks eased before tightening monetary policy for the first time in a decade. That increased the likelihood of a 2016 hike.