Stocks Ended Higher after Release of Fed Minutes

U.S. stocks closed with gains on Thursday after the minutes from the Federal Reserve’s latest policy meeting revealed that policy makers decided to hold off on a rate hike. The Dow Jones Industrial Average jumped 138.46 points, or 0.82%, to 17,050.75. The S&P 500 added 17.60 points, or 0.88%, to 2,013.43. The Nasdaq Composite was up 19.64 points, or 0.41%, to 4,810.79.

Federal Reserve officials put off an interest-rate increase in September because of growing risks to their outlook for economic growth and inflation, mainly from China, even as they continued to say they were on track to raise the target later this year.

Hillary Clinton unveiled a plan that aims to tackle excessive risk-taking in the financial sector and calls for breaking up too-big-to-fail banks. The proposal, laid out Thursday, would impose a risk fee on financial firms “that are too large and too risky to manage” and require them to reorganize, downsize or break apart, the Democratic presidential hopeful said.

Oil prices climbed to their highest in three months on Thursday. Brent crude oil futures closed up $1.72 at $53.05 a barrel, while U.S. crude futures closed up $1.62 at $49.43 a barrel.

Ruby Tuesday Inc. (RT) said Thursday it lost $4.19 million, or 7 cents a share, in the fiscal first quarter, reversing earnings of $2.56 million, or 4 cents a share, a year ago.

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