Stock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopes

Investing.com -- The S&P 500 closed higher Wednesday as the minutes of the Federal Reserve's July meeting bolstered expectations for a rate cut next month, overshadowing concerns about the economy following softer labor market data.

Markets are trading in a cautious manner as investors look for clues over the Federal Reserve's intention at its next policy-meeting in September. Goldman Sachs forecast that 600,000 to 1 million fewer jobs were created from April 2023 to March 2024 than previously reported, although the influential investment bank stated that the) stock rose 11% after the big box retailer raised its annual profit forecast and beat expectations for second-quarter comparable sales, with customers drawn in by low priced groceries and essentials.

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