Stocks rise after release of Fed meeting minutes

Friday, July 1, 2022, Vol. 46, No. 26
The Associated Press

Stocks are closing higher on Wall Street Wednesday following the release of minutes from the Federal Reserve's most recent policy meeting. The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.2% and the Nasdaq rose 0.3%. The Russell 2000 index of small company stocks remained in the red, a sign that investors are worried about economic growth. The minutes of the two-day meeting last month show that Fed officials concluded higher interest rates could be needed to restrain what they saw as a worrying trend: consumers starting to anticipate higher inflation. Bond yields rose.