Stocks Ended Higher following Fed Minutes

U.S. stocks ended higher on Wednesday , with the Nasdaq closing at year-to-date highs, as investors focused on the minutes of the March Fed meeting and a policy update by the European Central Bank. The Dow Jones Industrial Average rose 6.58 points, or 0.03%, to 26,157.16. The S&P 500 climbed 10.01 points, or 0.35%, to 2,888.21. The Nasdaq Composite added 54.97 points, or 0.69%, to 7,964.24.

Oil futures prices ended higher on Wednesday, as traders digested a monthly OPEC report that showed significant March output cuts by the Organization of the Petroleum Exporting Countries. West Texas Intermediate crude for May delivery rose 63 cents, or 1%, to settle at $64.61 a barrel. June Brent added $1.12, or 1.6%, to $71.73 a barrel.

Fed policy makers meeting last month dropped plans for further rate increases in 2019 due to unease over the U.S. and global economies and unexpectedly tame inflation, according to the minutes of the gathering released Wednesday afternoon.