Take a look at some of Wednesday's midday movers:
Financial stocks were among the biggest gainers including, MetLife.
Salesforce.com also hit a new 52-week high before turning lower.
Facebook rallied after JPMorgan upped its price target on the social-networking giant to $35 from $29 citing possibilities in mobile.
Kohl's slipped after Buckingham Research cut its rating on the retail chain to "neutral" from "buy."
U.S. Steel soared after Credit Suisse upgraded its rating on the steelmaker to "outperform" from "neutral," saying the sector is set for a bounce.
Caterpillar advanced after ISI Group upgraded the equipment manufacturer to "buy" from "hold" and boosted its target price to $111 from $94.
And Lam Research was among the best performers after D.A. Davidson initiated coverage of the fabrication-equipment maker for the semiconductor industry with a "buy" rating and a $56 price target.
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Lori Spechler
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The bond market seems to have heard a dovish undercurrent in the Fed minutes, while stock traders seem to think they got the Fed's message right.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.