(CNBC) — U.S. stocks moved slightly higher on Wednesday as investors pored over the latest minutes from the Federal Reserve.
The Dow Jones Industrial Average gained 190 points, or 0.6%. The S&P 500 and Nasdaq Composite rose 0.7% and 0.6%, respectively.
Stocks moved higher after the Federal Reserve released the minutes from its June meeting, showing that the central bank was committed to bringing down inflation. Fed members said the July meeting likely also would see another 50- or 75-basis point move, the minutes showed. A basis point is one one-hundredth of 1 percentage point.
