Target, Lowe's results boost Wall St; stocks hold gains after Fed minutes
By April Joyner NEW YORK (Reuters) - Wall Street's main indexes rose on Wednesday as upbeat earnings from retailers pointed to strength in U.S. consumer demand, and stocks held gains after minutes from the Federal Reserve's meeting last month showed that policymakers had debated a more aggressive rate cut
By April Joyner
NEW YORK (Reuters) - Wall Street's main indexes rose on Wednesday as upbeat earnings from retailers pointed to strength in U.S. consumer demand, and stocks held gains after minutes from the Federal Reserve's meeting last month showed that policymakers had debated a more aggressive rate cut.
U.S. stocks opened solidly higher following better-than-expected results from retailers Target Corp
Minutes from the Fed's policy-setting meeting on July 30-31, when the Fed cut rates by 25 basis points, showed that policymakers debated cutting interest rates more aggressively. Some participants preferred a 50-basis-point cut, but the committee was united in wanting to avoid the appearance of being on a path to further rate cuts.
Stocks briefly pared gains following the release of the minutes at 2 p.m. ET (1800 GMT), but then returned to their levels prior to the release.
"The stocks still want to see any evidence that the Fed is going to cut rates," said Willie Delwiche, investment strategist at Baird in Milwaukee.
"I don't think there's anything in here that would be an 'aha!' warning sign to stocks that they're not going to get another rate cut." he said. "But I also think that the longer-term picture of where the market sees rates ending up and where the Fed sees rates ending up might be different right now, and that's going to have to get resolved at some point."
The Dow Jones Industrial Average <.DJI> rose 268.33 points, or 1.03%, to 26,230.77, the S&P 500 <.SPX> gained 24.63 points, or 0.85%, to 2,925.14 and the Nasdaq Composite <.IXIC> added 75.65 points, or 0.95%, to 8,024.21.
(Reporting by April Joyner; Additional reporting by Lewis Krauskopf in New York and Medha Singh and Akanksha Rana in Bengaluru; Editing by Leslie Adler)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
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