U.S. stocks jumped on Wednesday, lifting the Nasdaq Composite into positive terrain for the year, after minutes from the Federal Reserve's last session offset concern about when the central bank would raise interest rates.
The Federal Open Market Committee's minutes had policy makers unanimous in agreeing to drop an unemployment target for hiking rates.
The decision "makes a lot of sense, to have a fixed data point when you're talking about the unemployment rate doesn't consider all the factors," said Dave Roda, regional chief investment officer at Wells Fargo Private Bank.
Treasury yields jumped last month after Fed members forecast the benchmark interest rate would climb more rapidly than previously projected. And Fed Chair Janet Yellen said rates could begin to climb about six months after the central bank concludes its monthly bond purchases.