US stocks rise ahead of Fed minutes
NEW YORK (City News) – Wall Street stocks rose early Wednesday ahead of the release of Federal Reserve meeting minutes expected to shed light on the prospects of another interest rate increase in 2017.
Key issues in the minutes include commentary on low inflation, which is seen as a potential hurdle to another rate increase after two rate hikes this year, and the Fed s plan to reduce its massive bond holdings.
US stocks ended little changed Tuesday after rising on Monday on diminishing anxiety over a clash between the US and North Korea over the latter s nuclear ambitions.
About 10 minutes into trading, the Dow Jones Industrial Average stood at 22,048.06, up 0.2 percent.
The broad-based S&P 500 rose 0.2 percent to 2,469.53, while the tech-rich Nasdaq Composite Index also advanced 0.2 percent to 6,343.73.
Big box retailer Target rose 1.0 percent after reporting that comparable store sales in the second quarter rose 1.3 percent compared with the year-ago amid increasing store traffic.