Stocks closed higher Wednesday at the end of a choppy session as investors looked to recover from a negative start to the new year despite Federal Reserve minutes showing the central bank plans to remain aggressive in 2023. The Dow Jones Industrial Average climbed over 100 points, while the S&P 500 and Nasdaq Composite rose 0.75% and 0.7%, respectively.

Here's how the market settled on Wednesday:

S&P 500 Index (SPY  ): +0.75% or +28.83 points to 3,852.97

Dow Jones Industrial Average (DIA  ): +0.40% or +133.40 points to 33,269.77

Nasdaq Composite Index (QQQ  ): +0.69% or +71.78 points to 10,458.76

Stocks initially opened in the green on Wednesday, only to dip in the morning following to key economic releases.

The November Job Openings and Labor Turnover Survey (JOLTS) report came in slightly better-than-expected with 10 million job vacancies, signaling continued strength for the labor market amid the Fed's aggressive rate hiking campaign. Meanwhile, the ISM manufacturing purchasing managers' index (PMI) contracted to 48.4 in December from 49 in November, signaling that interest rate hikes are slowing some aspects of the economy.

Wall Street then shook off the reports and rose higher until later paring gains following the release of minutes from the Fed's December policy meeting Wednesday afternoon, which showed hawkish sentiment remained amongst policymakers.

"Participants generally observed that a restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2 percent, which was likely to take some time," the meeting minutes read. "In view of the persistent and unacceptably high level of inflation, several participants commented that historical experience cautions against prematurely loosening monetary policy."

Also making headlines, Salesforce (CRM  ) on Wednesday announced new restructuring plans that include cutting about 10% of its workforce and closing several offices.

"I've been thinking a lot about how we came to this moment," CEO Marc Benioff said in a letter to employees. "As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we're now facing, and I take responsibility for that."

Shares of Alibaba Group (BABA  ) as well as other Chinese tech stocks rose on Wednesday after billionaire co-founder Jack Ma won approval from Chinese regulators to raise 10.5 billion yuan ($1.5 billion) for subsidiary Ant Group's consumer finance segment.

Wednesday's moves follow a downbeat start to 2023 after Wall Street capped its worst trading year since 2008 on Friday. On Tuesday, all three major benchmarks closed lower as investors remain cautious amid fears over the Fed's aggressive monetary policy and the potential for a recession on the horizon.

Looking ahead, investors will look for further clues on the central bank's next moves from Friday's jobs report.