World stock indexes climbed and the dollar dipped on Thursday as minutes from the latest U.S. Federal Reserve meeting showed policymakers view low inflation as a hurdle to raising rates.
U.S. crude oil prices briefly traded above $50 U.S. for the first time since July and added to gains late after a closely watched oil forecaster predicted prices would climb to $75 U.S. over the next two years.
According to minutes from the Fed's Sept. 16-17 meeting, the central bank thought the economy was close to warranting an interest rate hike in September but decided it was better to wait for evidence that a global economic slowdown was not knocking the United States off course.
Though unsettled by signs of turmoil overseas, policymakers did not think this had "materially altered" the outlook for the economy, the minutes showed. The Fed decided to leave rates unchanged at the September meeting.
The Dow and S&P 500 added to gains following the minutes, while the NASDAQ turned higher. The S&P 500 closed above 2,000 and hit its highest level in seven weeks.
The Dow Jones industrial average rose 138.46 points, or 0.8%, to 17,050.75, the S&P 500 gained 17.6 points, or 0.9%, to 2,013.43 and the Nasdaq Composite added 19.64 points, or 0.4%, to 4,810.79.
In Europe's growth engine, Germany, exports plunged 5.2% in August for their biggest monthly decline since the height of the global financial crisis.
A dollar index extended losses after the Fed minutes but quickly pared those declines and was last down 0.2%. Fading chances of a near-term rate hike have taken a toll on the dollar.
