Wall Street rises as Target, Lowe’s results point to consumer…

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Wall Street’s main indexes rose on Wednesday as upbeat earnings from retailers pointed to strength in U.S. consumer demand, and held gains after minutes from last month’s Federal Reserve meeting showed policymakers had debated a more aggressive interest rate cut.

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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 held gains after minutes from last month’s Federal Reserve meeting showed policymakers had debated a more aggressive interest rate cut.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019. REUTERS/Eduardo Munoz

Advancing issues outnumbered declining ones on the NYSE by a 2.51-to-1 ratio; on Nasdaq, a 2.14-to-1 ratio favored advancers.

The S&P 500 posted 31 new 52-week highs and five new lows; the Nasdaq Composite recorded 59 new highs and 67 new lows.

Volume on U.S. exchanges was 5.68 billion shares, compared with the 7.53 billion-share average for the full session over the last 20 trading days.

Reporting by April Joyner; additional reporting by Lewis Krauskopf in New York and Medha Singh and Akanksha Rana in Bengaluru; editing by Leslie Adler and Jonathan Oatis


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Wall Street’s main indexes rose on Wednesday as upbeat earnings from retailers pointed to strength in U.S. consumer demand, and held gains after minutes from last month’s Federal Reserve meeting showed policymakers had debated a more aggressive interest rate cut.

Source: {authorlink}

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