Once again, it was the Federal Reserve to the rescue for the stock market.
Major U.S. indexes rose broadly Wednesday, helped by a report out of the nation's central bank that showed Fed policymakers want to be absolutely certain the U.S. economy had recovered before starting to raise interest rates.
Confident that the Fed won't be raising rates until sometime next year, investors once again embraced some of the market's more risky names. Biotechnology and technology stocks, beaten down over the past week, were among the biggest gainers.
Wednesday's trading had one broad theme: risk on. Investors sold utility and telecommunications stocks — which are usually less...