In overseas trading, the German DAX stock index rose 0.2 percent, the U. K. FTSE
100 index rose 0.1 percent and the CAC 40 in France was 0.2 percent higher.
Natural gas rose 4 cents to settle at $2.98 per 1,000 cubic feet, heating oil rose 2 cents to settle at $1.51 per gallon
and wholesale gasoline was virtually flat at $1.58 per gallon.
NEW YORK — Stocks clambered higher Wednesday for their biggest gain in two weeks
and easily absorbed the Federal Reserve’s latest increase in interest rates, a move that was widely expected.
"That’s a pretty big move off something that seems to be ’This is what we told you we were going to do.’"
The drop in bond yields shone a warm light on stocks in industries known for paying relatively big dividends.
Those in the S&P 500 rose by 2.1 percent after the price of oil climbed Wednesday, the first time that’s happened in more than a week.
The yield on the two-year Treasury note, which is heavily influenced by changes in Fed policy, jumped on expectations for Fed action, for example.
Gains were widespread, and seven stocks rose on the New York Stock Exchange for every one that fell.
