Major stock indexes are now all on the plus side after release of Fed minutes
U.S. stocks remained mostly higher Wednesday as investors pored over the minutes from the Federal Reserve’s March meeting, which detailed in depth why the central bank abandoned its effort to normalize its monetary policy.
“A majority of participants expected that the evolution of the economic outlook and risks to the outlook would likely warrant leaving the target range unchanged for the remainder of the year,” the minutes said.Data released Wednesday morning showed consumer prices rose at the fastest pace in 14 months in March, though gains were muted when excluding volatile food and energy prices.
The Trump administration threatened to impose tariffs on $11 billion worth of imports from the European Union, raising the specter of increased global trade tensions beyond the continuing U.S.-China spat. “The stronger 0.4% month on month rise in headline consumer prices, which drove the annual inflation rate back up to 1.9%, from 1.5%, was mainly due to the continued rebound in gasoline prices,” wrote Andrew Hunter, senior U.S. economist at Capital Economics, in a note.
Uber is set to kick off its IPO market campaign, selling $10 billion in stock, according to a number of reports. That public debut is slated to take place as early as May on the New York Stock Exchange, according to reports.
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