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Dow climbs more than 230 points

NYSE
Photo by BRYAN R. SMITH/AFP/Getty Images

The Dow rose as many as 300 points Wednesday, before settling up around 230 points as of 2:45 pm ET.

Why it matters: The Federal Reserve released the minutes from its January meeting on Wednesday, which indicated that "officials see increased economic growth and an uptick in inflation as justification to continue to raise interest rates gradually," per CNBC.