Target, Lowe's earnings push Wall St. higher ahead of Fed minutes

REUTERS: Wall Street's main indexes rose about 1per cent on Wednesday, as upbeat earnings from retailers Lowe's and Target reinforced confidence in consumer demand, while investors awaited the release of the Fed minutes for further clues on the path of interest rate cuts.

"Investors are counting on the strength of consumer spending," said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey. The highlight of the day will be the minutes from the Federal Reserve's July meeting, when it cut interest rates for the first time in more than a decade. The details of the meeting are due to be released at 2 p.m. ET.

All S&P sectors were higher with the defensive utilities , consumer staples and real estate sectors posting the smallest gains, reflecting investor appetite for risk.

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Futures gain on upbeat Target, Lowe's earnings; Fed minutes eyedU.S. stock index futures rose on Wednesday as upbeat earnings reports from retailers Lowe's and Target reflected robust consumer demand, helping ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »