By Victor Reklaitis, MarketWatch , Ryan Vlastelica

All 11 primary S&P 500 sectors rose in early trading

U.S. stocks rose on Wednesday, in a modest rebound from the previous session's decline as investors looked ahead to the coming release of minutes from the Federal Reserve's January meeting.

Read more:5 things to watch in the Fed minutes (http://www.marketwatch.com/story/five-things-to-watch-in-the-fed-minutes-2018-02-20)

What are the main benchmarks doing?

The Dow Jones Industrial Average rose 44 points, or 0.2%, to 25,012. The S&P 500 rose 9 points to 2,725, a gain of 0.4%. The Nasdaq Composite Index added 38 points, or 0.5%, to 7,272.

Recent trading has been volatile, with equities posting sharp swings in both directions. Stocks tumbled on Tuesday, putting an end to a six-day rally for the Dow and S&P, although the major indexes were coming off their biggest one-week percentage gain in years last week.

What could drive markets?

The Fed minutes are scheduled for release at 2 p.m. Eastern Time.

The Dow Jones Industrial Average is down 4.2% for the month, thanks in part to signs of an uptick in inflation (http://www.marketwatch.com/story/why-this-investment-pro-thinks-wall-streets-inflation-fears-are-overblown-2018-02-13) and bets the U.S. central bank won't delay in raising interest rates further. Higher rates can lure money out of equities. Much of the recent gyrations have come on concerns that inflation could be returning to markets, which could lead the Fed to become more aggressive in combating such a scenario.

See:Higher inflation, tax-and-spend boom has investors looking for Fed clues (http://www.marketwatch.com/story/higher-inflation-trump-tax-and-spend-boom-leave-investors-looking-for-fed-clues-2018-02-17)

What are strategists saying?

"I'm waiting to see if there's going to be any change in the Fed minutes, both in terms of their tenor and in whether there's any indication of what the Fed will be doing in terms of raising rates," said Mark Grant, managing director and chief global strategist at B. Riley FBR Inc., who noted that these will be the first minutes released under Chairman Jerome Powell, in another potential question mark compared with past Fed statements.

"There are three divergent trends driving markets right now: the Fed and rates, the Trump administration and its attempt to grow the economy, and what other central banks may do. These three very strong forces are all moving in different directions, and we're trying to figure out which trend is the strongest."

What data and speakers are ahead?

An index that tracks U.S. manufacturers rose to a nearly 3 1/2-year high in February (http://www.marketwatch.com/story/us-businesses-grow-rapidly-at-start-of-2018-ihs-markit-finds-2018-02-21) and a gauge for service-oriented companies hit a six-month peak, according to IHS Markit's flash PMI.

Separately, existing-home sales fell 3.2% in January.

Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)

Which stocks are in focus?

The day's gains were broad, with all 11 primary S&P 500 sectors higher on the day. Leading the advance was industrials, which rose 0.5%. Airline stocks were among the sector's biggest gainers; Alaska Air Group(ALK) rose 2%, as did American Airlines Group (AAL)

Shares in Walmart Inc.(WMT)fell 1.1%, extending a sharp selloff on Tuesday that represented its largest one-day percentage drop in 30 years (http://www.marketwatch.com/story/walmarts-stock-is-on-track-for-its-worst-point-drop-in-its-history-as-a-publicly-traded-entity-2018-02-20). The results came in the wake of the retail king's quarterly earnings report; analysts worried about a slowdown in online sales and pressure on profit margins (http://www.marketwatch.com/story/walmart-execs-grilled-on-disappointing-online-growth-on-earnings-call-2018-02-20).

Owens Corning (OC) fell 3.8% despite reporting fourth-quarter earnings that beat expectations (http://www.marketwatch.com/story/owens-corning-earnings-beat-on-insulation-sales-2018-02-21).

Pay-TV giant Dish Network Corp.(DISH) dipped 0.3% after it reported a drop (http://www.marketwatch.com/story/dish-earnings-buoyed-by-12-billion-tax-benefit-2018-02-21) in its fourth-quarter revenue.

Devon Energy Corp.(DVN) sank 11% after it reported fourth-quarter results that missed expectations and gave a downbeat outlook (http://www.marketwatch.com/story/devon-energy-shares-slide-6-after-earnings-miss-disappointing-guidance-2018-02-21).

Foot Locker Inc.'s stock (FL)rose 2.5% after the retailer late Tuesday announced a hike in its dividend and a spending plan focused on online initiatives (http://www.marketwatch.com/story/foot-locker-raises-dividend-cuts-yearly-capital-plan-to-focus-on-online-sales-2018-02-20).

Shares in LendingClub Corp.(LC)tumbled 6.5% after the lender late Tuesday posted quarterly results that missed expectations (http://www.marketwatch.com/story/lendingclub-shares-fall-after-quarterly-earnings-miss-2018-02-20).

How are other assets performing?

European stocks were losing ground, while Asian markets mostly closed higher (http://www.marketwatch.com/story/asian-markets-get-off-to-shaky-start-after-down-day-on-wall-street-2018-02-20).

Oil futures (http://www.marketwatch.com/story/crude-prices-slip-further-ahead-of-us-supply-data-2018-02-21)dropped as traders waited for a report on U.S. supplies. The ICE U.S. Dollar Index edged higher, and gold futures were little changed.

The yield on the 10-year Treasury note was around 2.88%, down from 2.895% late Tuesday.

(END) Dow Jones Newswires

February 21, 2018 10:10 ET (15:10 GMT)