Tuesday stocks turn higher after release of Fed minutes

Dow at 11,044, a rise of 34 points today.

NEW YORK (AP) — Traders pushed shares higher Tuesday after minutes from the latest Federal Reserve meeting kept hope alive that the central bank would take more action to stimulate the economy.
The Fed had said after its Sept. 21 meeting that it was concerned that inflation was too low, and suggested it could step up its purchases of government bonds and take other action to encourage lending.
Minutes from the September meeting, released Tuesday afternoon, indicated that Fed Chairman Ben Bernanke and his colleagues were nearing a consensus on what steps to take. Traders are hoping for more concrete news from the Fed following its next meeting in early November.
The dollar fell against other currencies after the Fed minutes came out as traders anticipated another reduction in U.S. interest rates.
Stocks turned sharply higher in the afternoon, led by financial stocks. Technology stocks edged slightly higher, led by Citrix Systems, Inc. and Apple Inc. The tech-heavy Nasdaq composite index rose half a percent, while the Dow Jones industrial average rose about 35 points in late afternoon trading.

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