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US stocks climb on Target results, Fed minutes

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Dow Jones Industrial Average ends up 0.1 per cent at 40,890.49.

NEW YORK - Wall Street stocks finished higher on Aug 22, following solid earnings from big-box retailer Target and Federal Reserve meeting minutes that hinted at an upcoming interest rate cut.

The Fed minutes were “dovish and though they’re dated, they suggest the debate is not whether the central bank cuts interest rate at its upcoming September meeting but rather how aggressive the initial phase of this normalisation cycle should be,” said a note from Oxford Economics.showed US employers added around 68,000 fewer jobs monthly in the 12-month period through March 2024 compared with earlier estimates.

The automaker scuttled plans for one new EV model and pushed back the timeframe on a second vehicle in light of a slower-than-expected transition to EVs in North America.

 

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Wall Street muted as investors look to Fed after stocks recovery:Global shares idled on Wednesday after a lengthy rebound propelled them towards recent record highs, and as investors awaited clues on interest-rate cuts from the Federal Reserve to decide their next move.
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