Wall St ends higher following Fed minutes

On April 16, 2021, the New York Stock Exchange is seen in the Manhattan borough of New York City, New York, United States. Carlo Allegri/Reuters Reuters, NEW YORK, July 7 – Stocks in the United States finished higher on Wednesday as minutes from the most recent Federal Reserve meeting revealed that officials were split on economic signals. According to minutes from the Federal Reserve’s June policy meeting, Fed policymakers agreed that considerable further progress on the economic recovery “was largely assessed as not having yet been met,” but that they should be ready to intervene if inflation or other dangers developed. find out more “I view this as a dovish set of notes simply because they don’t believe they have enough assurance around the issue as a group to make any adjustments,” said Brad McMillan, chief investment officer at Commonwealth Financial Network in Waltham, Massachusetts. Investors have been shifting between economy-linked value equities and growth names in recent sessions, indicating that Wall Street is anxious about inflation. On Wednesday, industrials (.SPLRCI) led the S&P 500 sector gains. The Dow Jones Industrial Average (.DJI) rose 104.42 points, or 0.3 percent, to 34,681.79, the S&P 500 (.SPX) jumped 14.81 points, or 0.34 percent, to 4,358.35, and the Nasdaq Composite (.IXIC) increased 1.42 points, or 0.01 percent, to 14,665.06. A number of internet companies, notably Didi Global (DIDI.N), Tencent (0700.HK), and Alibaba (9988.HK), have been punished by China’s market regulator for failing to notify past merger and acquisition deals for clearance. find out more Devik Jain and Shreyashi Sanyal in Bengaluru and Lewis Krauskopf in New York contributed additional reporting; Arun Koyyur, Maju Samuel, and David Gregorio edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More