Stocks closed higher in erratic trading on Wall Street yesterday. At the close, the Dow Jones Industrial Average was up 50.44 at 10,887.39 with much of the gain coming in the final hour of trading.
Broader stock indicators also closed higher. The Standard and Poor's 500 index rose 10.89 to 1,344.21, and the Nasdaq composite index rose 19.05 to 2,577.41.
NYSE volume totalled 767.74 million shares, against 736.30 million in the previous session.
On Tuesday, the Dow fell 16.52, recovering from a 112-point slide that followed the Federal Reserve's decision to leave interest rates unchanged. But a warning from the Fed that rates are likely to rise if inflation reawakens in the coming months left the market jittery yesterday.
Banking and brokerage stocks, which have slipped in recent sessions, were benefiting from the belief that the Fed would be able to keep inflation under control.
