Economics
U.S. Stocks Advance Amid Fed Minutes as Commodity Shares Rally
- Energy, raw-material shares jump as dollar slips further
- Fed officials willing to wait for more data before rate raise
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U.S stocks rose as Federal Reserve minutes reflected caution over raising interest rates even as the economy improves, further boosting commodity producers.
The minutes kept expectations for higher rates pushed into next year, weakening the dollar and boosting energy, raw-material and industrial companies amid speculation that a weaker U.S. currency will lift their profits. Those three industry groups rallied at least 1.4 percent Thursday. Alcoa Inc. fell in late trading after unofficially kicking off the earnings season with results that missed analysts’ forecasts.