U.S. stocks rose, Treasuries erased losses and the dollar fell Wednesday after minutes from the Federal Reserve’s last meeting indicated officials considered gradual rate hikes warranted amid debate on the economic impact from a rising dollar and Donald Trump’s policies.

The S&P 500 rose 0.6 percent to 2,270.64 at 4 p.m. in New York. The Dow Jones Industrial Average resumed its pursuit of 20,000, rising 59.37 points Wednesday to 19,941.13.

Treasuries were little changed at 2.44 percent, 3 basis points lower than the day before the hike.

The euro rose 0.8 percent to $1.0486 in its first gain against the dollar this year after the region’s inflation accelerated in December at the fastest pace since 2013.

Crude oil futures climbed 1.8 percent to settle at $53.26 a barrel in New York after tumbling 2.6 percent Tuesday. Gold futures rose 0.2 percent to $1,164.30 in New York while copper jumped 2.7 percent.

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