AlQa'dah 16, 1435, September 11, 2014, SPA -- U.S. stocks closed higher Wednesday, as investors pondered when the Federal Reserve (Fed) would start hiking interest rates. In U.S. economic news, the Fed is measuring the progress of the recovery as it readies to conclude its bond purchases and considers raising rates. The central bank begins its next two-day policy session in a week. The government reported wholesale inventories rose 0.1 percent in July, versus expectations for 0.5 percent. The Mortgage Bankers Association reported home-mortgage applications declined last week as interest rates rose. The dollar fluctuated against the currencies of major U.S. trading partners. Light sweet crude oil for September delivery dropped $1.08 to $91.67 a barrel on the New York Mercantile Exchange. Gold futures lost $3.20 to $1,245.30 an ounce. The Dow Jones industrial average gained 54.84, or 0.32 percent, to 17,068.71. The broader Standard & Poor's 500 index climbed 7.25, or 0.36 percent, to 1,995.69. The technology-heavy Nasdaq composite index rose 34.24, or 0.75 percent, to 4,586.52.
