Dovish Fed minutes prompt biggest gains of 2014 for US stocks

US stocks posted their largest one-day gain this year as the latest meeting minutes from the Federal Reserve suggest it may adopt a more cautious stance on hiking interest rates.

The minutes from the Fed's policy meeting in September revealed a preoccupation with lessening domestic inflation pressures and the stronger dollar rather than a path to higher rates. Committee members discussed how a strong dollar could hurt international competitiveness and could also lessen inflation in the US, as imported goods become cheaper.  As a result, the Dow Jones index rose 1.6% to 1,6994, its largest gain since last December, while the S&P 500 jumped 1.7% to 1,969, its strongest rise in nearly 12 months. The moves reversed the hefty declines prompted by IMF global grow...