U.S. stocks ended higher on Wednesday after the minutes from the Federal Reserve's July meeting showed the U.S. central bank wanted to retain flexibility...
U.S. stocks ended higher on Wednesday after the minutes from the Federal Reserve's July meeting showed the U.S. central bank wanted to retain flexibility during future policy decisions. The S&P 500 SPX, +0.82% rose 0.8% to end around 2,924. The Dow Jones Industrial Average DJIA, +0.93% climbed 241 points, or 0.9%, to finish around 26,204, based on preliminary numbers. The Nasdaq Composite COMP, +0.90% was up 0.9% to end near 8,020.
The minutes showed that the Fed did not view July's rate move as the beginning of a series of cuts, and that they would take a meeting by meeting approach when deciding on further interest rate changes. In company news, shares of Target TGT, +20.43% hit a record on Wednesday after it raised its earnings outlook. Strong retail earnings from retailers including Lowe's and Home Depot this week helped to buoy risk assets and offset worries that the U.S. economy was slowing sharply.
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