Closing Bell: Valeant Could Get New CEO in Weeks; U.S. Stocks Jump

U.S. stocks ended Wednesday around session highs thanks to dovish Federal Reserve comments and a massive surge in crude oil. West Texas Intermediate rose more than five percent, its biggest daily jump since mid-March. The Fed's March meeting minutes showed members debate an April hike, with the majority erring on the side of caution and urging patience. Fed funds futures now price an April rate hike with a three percent chance, down from five percent at the beginning of the week. Valeant (VRX) soared after billionaire investor Bill Ackman said the company could have a new chief executive in weeks, not months. Ackman's Pershing Square is one of the drugmaker's largest shareholders and has stuck by it as it suffered tumbling stock prices.