Stocks are on a comeback. Dow rises 225 points

Dow futures are grinding higher on Wednesday as the stock market is on track to erase Tuesday's losses ahead of the release of Federal Reserve minutes in the afternoon.

(CNN) - The Dow and the broader US stock market rallied on Wednesday and clinged on to their gains after the release of Federal Reserve minutes in the afternoon.

The Dow was trading some 225 points higher, up 0.9%. The S&P 500 was 0.7% higher and the Nasdaq Composite was up 0.8%. All three indexes finished lower on Tuesday; the Dow and the S&P ended three-day winning streaks.

The Fed published the minutes from its July meeting at 2 p.m. ET on Wednesday. During the July meeting, the Fed cut interest rates for the first time since 2008.

The minutes showed that most Fed policymakers supported the rate cut. But the minutes also showed that they wanted to "maintain optionality" when it comes to the course it takes on monetary policy going forward.

Expectations for an additional quarter percentage point cut in September are at 98%, according to the CME FedWatch tool.

President Donald Trump once again lashed out against Fed Chairman Jerome Powell early Wednesday. "The only problem we have is Jay Powell and the Fed," he said on Twitter, adding that there would be "big U.S. growth if he does that right thing."

"Sentiment seems to be improving on the hope for signals of more monetary easing from the Fed and other global central banks in the days ahead," wrote Priscilla Thiagamoorthy, economic analyst at BMO, in a note to investors.

That shift in sentiment is helping boost riskier assets like stocks and is leading the 10-year Treasury yield higher. The yield last sat at 1.5774%.

Adding to the hopes of monetary policy sentiment, Trump said Tuesday that his administration was looking at additional tax cuts.

Gold, also a safe haven investment, is slipping, with prices down 0.3% at $1,500. Oil prices settled 0.8% lower at $55.68 per barrel, pulling back from earlier highs following a report from the US Energy Information Administration showing falling inventories in the United States.

The US dollar, measured by the ICE US Dollar Index, is little changed, staying in wait-and-see mode ahead of the afternoon release.

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