NEW YORK - Technology stocks led Wall Street slightly higher on Wednesday, as U.S. inflation data proved to be benign and the minutes from the Federal Reserve’s March meeting were unsurprising.
The three major U.S. indexes were relatively unchanged following the release of the Fed’s minutes, which reaffirmed the central bank’s patience regarding future interest rate hikes. “The core number shows no inflation and the headline reflects higher gasoline prices, which is a headwind for growth, a tax on consumers,” said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
The earnings season began in earnest as Delta Air Lines raised its revenue forecast and posted better-than-expected profits, lifting the airliner’s stock by 1.6%. Tesla Inc got a boost after U.S. lawmakers introduced legislation that would expand the electric vehicle tax credit. The company’s stock advanced 1.4%.First Solar Inc jumped 8.3% after Goldman Sachs added the stock to its conviction list.
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