NEW YORK, Aug 16 — Wall Street stocks rose early today ahead of the release of Federal Reserve meeting minutes expected to shed light on the prospects of another interest rate increase in 2017.
Key issues in the minutes include commentary on low inflation, which is seen as a potential hurdle to another rate increase after two rate hikes this year, and the Fed’s plan to reduce its massive bond holdings.
US stocks ended little changed yesterday after rising on Monday on diminishing anxiety over a clash between the US and North Korea over the latter’s nuclear ambitions.
About 10 minutes into trading, the Dow Jones Industrial Average stood at 22,048.06, up 0.2 per cent.
The broad-based S&P 500 rose 0.2 per cent to 2,469.53, while the tech-rich Nasdaq Composite Index also advanced 0.2 per cent to 6,343.73.
Big box retailer Target rose 1.0 per cent after reporting that comparable store sales in the second quarter rose 1.3 per cent compared with the year-ago amid increasing store traffic. — AFP
Source: The Malay Mail Online