Stocks advanced Wednesday after the Federal Reserve indicated that it will consider raising its benchmark interest rate at its December meeting. The prospect of higher interest rates set off a rally in banking stocks, and energy stocks rose with the price of oil.

Stocks advanced Wednesday after the Federal Reserve indicated that it will consider raising its benchmark interest rate at its December meeting. The prospect of higher interest rates set off a rally in banking stocks, and energy stocks rose with the price of oil.

For the day:

The Dow Jones industrial average climbed 198.09 points, or 1.1 percent, to 17,799.52.

The Standard & Poor's 500 index rose 24.46 points, or 1.2 percent, to 2,090.35.

The Nasdaq Composite index added 65.55 points, or 1.3 percent, to 5,095.69.

For the week:

The Dow Jones industrial average is up 132.82 points, or 0.8 percent.

The S&P 500 has picked up 15.20 points, or 0.7 percent.

The Nasdaq has gained 63.83 points, or 1.3 percent.

For the year:

The Dow is down 43.55 points, or 0.2 percent.

The S&P is up 31.45 points, or 1.5 percent.

The Nasdaq is up 359.63 points, or 7.6 percent.