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All major indexes up about 1% amid Fed minutes

U.S. equities traded higher on Wednesday as investors digested the release of the Federal Reserve's October meeting minutes.

The minutes showed that the central bank's most important members believe a rates hike next month would be appropriate.

"That's not a surprise given what [Fed Chair Janet] Yellen said a couple of weeks ago," said Matt Tuttle, chief investment officer of Tuttle Tactical Management. "We need to convince them not to hike at this point."

The three major indexes hit their session highs following the release of the minutes, with the Nasdaq Composite outperforming.

The Dow Jones industrial average gained nearly 200 points at its highs, with Apple and Nike contributing most of the gains.

Apple's stock rose about 2.5 percent after Goldman released a note saying the company's shares will rise 43 percent in the next 12 months.

The S&P 500 was also higher, as health care gained over 1 percent.

"To me, the minutes were unusually clear," said Jeffery Elswick, director of fixed income at Frost Investment Advisors. "They seem to be leaning toward a December rate hike."

Elswick also said he believes there could be more volatility in the bond market as the December meeting draws closer.

Investors also took the overnight Paris raid as a positive, said Peter Cardillo, chief market economist at First Standard Financial. "I kind of suspect what we're seeing here is what happened on Monday with the situation in Paris."

French police carried out a large-scale operation in the northern Paris suburb of Saint-Denis on Wednesday morning, which lasted nearly six hours.

Officials said Abdelhamid Abaaoud — believed to be the mastermind who coordinated and ordered the attacks — was the target of the raids, which saw at least one woman killed after she detonated a suicide bomb. Speaking in Paris, French President Francois Hollande confirmed that two people died during the operation, the second being a man according to the Paris prosecutor, though further details have yet to be released.

The successful raid "sort of puts in the sense that the G-20 is taking a unified stance," Cardillo...


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