Wall Street's main indexes rose on Wednesday as upbeat earnings from retail...
). Target shares surged 19.4% after the big-box retailer raised its annual earnings forecast. Lowe’s shares climbed 10.3% after the home-improvement chain beat profit estimates.
Minutes from the Fed’s policy-setting meeting on July 30-31, when the Fed cut rates by 25 basis points, showed that policymakers debated cutting interest rates more aggressively. Some participants preferred a 50-basis-point cut, but the committee was united in wanting to avoid the appearance of being on a path to further rate cuts.
Stocks briefly pared gains following the release of the minutes at 2 p.m. ET , but then returned to their levels prior to the release. “The stocks still want to see any evidence that the Fed is going to cut rates,” said Willie Delwiche, investment strategist at Baird in Milwaukee. “I don’t think there’s anything in here that would be an ‘aha!’ warning sign to stocks that they’re not going to get another rate cut.” he said. “But I also think that the longer-term picture of where the market sees rates ending up and where the Fed sees rates ending up might be different right now, and that’s going to have to get resolved at some point.”
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Target shares open at record after blowing out Wall Street estimates for the second quarterTarget shares opened at record high after the retailer beat second-quarter earnings expectations and boosted its full-year estimates.
Read more »
Target, Lowe's earnings push Wall Street higherU.S. stocks rose broadly on Wednesday following upbeat retail earnings from Lowe...
Read more »
'Don't short a dull tape' – Old Wall Street adage may explain the stock market's comebackTrading volumes this week are well below their recent averages and that means this comeback may be suspect.
Read more »
Wall Street rallies on hopes of global economic stimulusU.S. stocks climbed on Monday as reports of stimulus efforts in China and German...
Read more »
Dow rallies more than 200 points as Wall Street continues rebound from August sell-offAll 3 major U.S. indices climbed today as Treasury yields rebounded, quelling fears of a looming recession. Equities also got a boost after the U.S. agreed to temporarily soften policy against Huawei. The Dow rose 0.96% as the S&P jumped 1.21%.
Read more »
FDIC approves tweak of Volcker Rule, easing trading regulations for Wall Street banksThe FDIC on Tuesday voted to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.
Read more »