NEW YORK, May 24 (Xinhua) -- U.S. stocks rose on Wednesday, with the Dow and S&P 500 wiping out losses from last Wednesday's selloff, as investors awaited the release of the minutes from the Federal Reserve's meeting in May.
At midday, the Dow Jones Industrial Average was up 33.26 points, or 0.16 percent, to 20,971.17. The S&P 500 rose 2.64 points, or 0.11 percent, to 2,401.06. The Nasdaq Composite Index gained 11.43 points, or 0.19 percent, to 6,150.14.
The Fed will release the minutes of the last meeting later Wednesday. The U.S. central bank left its benchmark interest rates unchanged earlier this month as it waited for more data to assess the U.S. economic outlook, but didn't signal any change to its balance sheet policy.
Wall Street paid attention on how the central bank might start shrinking its 4.5 trillion U.S. dollars balance sheet and tried to find clues on its next move.
The Fed policymakers are slated to meet next month and hinted at a possible rate hike in June.
Market expectations for a June rate hike were 78.5 percent, according to the CME Group's FedWatch tool Wednesday.
On the economic front, U.S. existing-home sales slipped 2.3 percent in April, said the National Association of Realtors Wednesday.
U.S stocks rose on Tuesday, posting 4-day wining streak, as Wall Street kept an eye on President Donald Trump's first full budget plan. Enditem
