NEW YORK: Wall Street stocks were mostly higher early Wednesday ahead of the release of Federal Reserve meeting minutes, while major retailers report their quarterly results.
Investors will cull through minutes connected to the Fed’s July 26 interest rate hike, for clues on what to expect going forward.
Futures markets currently are betting that the central bank will hold rates steady at its next meeting in September.
Wall St falls on rate concerns fueled by retail sales data, big banks drop
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 35,108.39.
The broad-based S&P 500 added 0.2 percent at 4,447.05, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 13,612.70.
Stocks have been trading flat to down for much of August thus far, after a buoyant first seven months of 2023.
Target shares jumped 4.7 percent following a mixed earnings report in which the retailer announced better-than-expected quarterly results but trimmed back its full-year profit forecast on lower sales.
The big-box chain described its inventory position as much improved compared with last year when it had a glut of unwanted merchandise.
TJX, the parent of retail chains including TJ Maxx and Marshalls, gained 3.0 percent as it lifted full-year targets after topping profit forecasts.
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