Stocks advance for third day, despite Fed minutes
Source: AP-Excite
By KEN SWEET
NEW YORK (AP) The stock market rose for a third straight day Wednesday despite a report from the Federal Reserve that showed a growing chorus of central bank officials willing to raise interest rates sooner rather than later.
In the bond market, prices fell and yields rose as investors prepared themselves for higher interest rates.
The Dow Jones industrial average rose 59.54 points, or 0.4 percent, to 16,979.13. The Standard & Poor's 500 index rose 4.91 points, or 0.3 percent, to 1,986.51, less than two points away from its late-July record close of 1,987.98.
The Nasdaq composite was mostly unchanged on the day, falling 1.03 points, less than 0.1 percent, to 4,526.48.
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FILE - This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. U.S. stocks are opening lower Wednesday, Aug. 20, 2014, after two straight days of gains. (AP Photo/Richard Drew, File)
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