Stocks edge higher; Gap, Nordstrom sink on weak results

Wall Street capped another wobbly day of trading Wednesday with an uneven finish for the major stock indexes ahead of the Thanksgiving holiday.

The Federal Reserve released the minutes from its October policy meeting, which showed that Fed officials discussed how they “would not hesitate” to take appropriate actions toThe minutes also revealed Fed officials maintained that the surge in inflation seen this year was still likely to be transitory while acknowledging that the rise in prices had been greater than expected.

The S&P 500 rose 10.76 points to 4,701.46. The index set an all-time high last Thursday. The Dow slipped 9.42 points to 35,804.38, and the Nasdaq advanced 70.09 points to 15,845.23. Investors kept an eye on the latest batch of quarterly report cards. Computer maker HP rose 10.10% for the biggest gain in the S&P 500 after reporting solid financial results. Autodesk slumped 15.5% after the design software company warned investors that the pace of its recovery is being hurt by supply chain problems and pressure from inflation.

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