US stocks rise on dovish Fed minutes

New York - US stocks rose on Thursday after Federal Reserve meeting minutes lifted confidence the US central bank would not move quickly to hike interest rates.

At the closing bell, the Dow Jones Industrial Average was at 17 051.82, up 139.53 points (0.83%).

The broad-based S&P 500 rose 17.54 (0.88%) to 2 013.37, while the tech-rich Nasdaq Composite Index gained 19.64 (0.41%) to 4 810.79.

Minutes from the Fed's September 16 to17 meeting emphasized policy maker concerns about the slowing global economy, led by China, and the drag of the stronger dollar on the US. The Fed decided at that meeting against hiking rates.

The minutes "were certainly not suggesting the Fed may raise its rates anytime soon and reminded that the Fed is cognizant of the challenges around the world," said Chris Low, chief economist at FTN Financial.