Stocks Ended Higher after Fed Minutes

U.S. stocks ended up slightly on Wednesday, with the S&P 500 hitting a record high close, after minutes of the Federal Reserve’s latest meeting showed policymakers view a rate hike coming soon. The Dow Jones Industrial Average rose 74.51 points, or 0.36%, to 21,012.42. The S&P 500 gained 5.97 points, or 0.25%, to 2,404.39. The Nasdaq Composite advanced 24.31 points, or 0.40%, to 6,163.02.

Oil prices fell Wednesday to register their first decline in six sessions. July West Texas Intermediate crude shed 11 cents, or 0.2%, to $51.36 a barrel. July Brent crude fell 19 cents, or 0.4%, to $53.96 a barrel.

U.S. home resales fell from a more than 10-year high in April, weighed down by a chronic shortage of houses on the market that is keeping prices elevated and sidelining prospective buyers.The National Association of Realtors said on Wednesday existing home sales declined 2.3 percent to a seasonally adjusted annual rate of 5.57 million units last month.