US shares close higher despite rate rise signals
(Close): Wall Street shrugged off any concerns about an interest rate rise after the Federal Reserve signalled that a December hike was possible.
Every Dow stock ended up, led by Nike, up 2.61% also after an upgrade.
Market seemed to welcome news that interest rates could rise, taking it as a signal that the US economy is strengthening.
The market today is just reinforcing the view that most likely the Fed is going to move in December, and that's not necessarily a bad thing for either the economy" or the stock market, said Jeremy Zirin, chief equities strategist at UBS Wealth Management Americas.
All 10 sectors in the S&P 500 rose, led by healthcare stocks, which rose 2%. The sector is up 5.1% this year. Financial stocks rose 1.8%.
Qualcomm and Target were the biggest drags on the S&P. Qualcomm fell 9.4% after a South Korean regulator alleged it violated competition laws.
Target fell 4.3% after warning it will miss its fiscal-year forecast for online sales growth.