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U.S. Stocks Gain Ahead of the Federal Reserve's Meeting Minutes

Stock Markets May 25, 2022 09:54AM ET
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© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks rose on Wednesday ahead of the release of the Federal Reserve's minutes from its most recent meeting as weak retail earnings reports continued to affect consumer sentiment.

At 10:43 AM ET the Dow Jones Industrial Average rose 174 points, or 0.6%, while the S&P 500 rose 0.7% and the NASDAQ Composite rose 1%.

Later Wednesday, the Federal Reserve will release the minutes of its last meeting, when it raised interest rates by a half percentage point in order to combat inflation. The central bank is expected to make a similar move at its meeting next month, though investors will be looking to the minutes today to see if there's any hint it might consider slowing down its rate hike plans. Some investors are worried the Fed's aggressive stance toward beating back inflation could stall out the economy and tip it into recession. A giant slowdown in new home sales and comments on consumer shopping trends by retailers in recent days have reinforced this view.

Shares of retailer Dick’s Sporting Goods Inc (NYSE:DKS) erased earlier losses and rose 8% after it reported a weaker-than-expected 2022 outlook because of the challenging economic conditions. It did beat expectations for sales and profit in the most recent quarter. On the other hand, Nordstrom Inc (NYSE:JWN) shares rose 10% after it raised its forecast for the second time this year as its affluent customers shopped for the return of in-person social and work events.

Shares of burger chain The Wendy’s Co (NASDAQ:WEN) jumped more than 10% after activist fund Trian Fund Management disclosed that it has approached the company's board about a transaction such as an acquisition, merger, or tender offer.

NVIDIA Corporation (NASDAQ:NVDA) shares rose 2.7% ahead of the chipmaker's earnings after the closing bell this evening.

Oil ticked higher. Crude Oil WTI Futures rose 0.7%, to $110.56 a barrel and Brent Oil Futures rose 0.7% to $111.56 a barrel. Gold Futures fell 0.8% to $1,850 an ounce.

U.S. Stocks Gain Ahead of the Federal Reserve's Meeting Minutes
 

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Comments (8)
Kerry Ditto
Kerry Ditto May 25, 2022 12:02PM ET
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Insane to raise rates just to push to recession. Political agenda or what?
CN KW
CN KW May 25, 2022 11:56AM ET
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a week later all goes back up again and cycle continues and great recession await US of A!
Dennis Wozny
Dennis Wozny May 25, 2022 11:03AM ET
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We have not even begun to see bottom. Poor leadership and policy will continue to weigh on thr markets
Gary Smith
Gary Smith May 25, 2022 11:03AM ET
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Based off what assumption are you making that comment. Everything has been adjusting for the past few months. If we are not near a bottom, we are very close. Personally, I would not be surprised if we bounce from here to 4100 or so on the S&P.
First Last
First Last May 25, 2022 11:03AM ET
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"Poor leadership and policy" from the Kremlin & CCP, not from the US since Trump was voted out.
Kevin Ryan
Kevin Ryan May 25, 2022 11:02AM ET
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The media loves to spread fear! News flash the stock market already crashed! Over the past six months the Nasdaq has pulled back 30% from the highs representing a buying opportunity of a lifetime!Stocks are not going to get cheaper than they are! The bottoms are in and it’s time to buy what everyone else sold!
Kerry Ditto
Kerry Ditto May 25, 2022 10:43AM ET
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Stocks are too tired to fall.
Kerry Ditto
Kerry Ditto May 25, 2022 10:40AM ET
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If TSLA is a bargain, everything is a bargain
Gary Smith
Gary Smith May 25, 2022 10:40AM ET
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I know. Don't temp me
lokraj pandey
lokraj pandey May 25, 2022 10:40AM ET
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Tesla always take our money
Kerry Ditto
Kerry Ditto May 25, 2022 10:36AM ET
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FOmo, Pick up
Mitchel Pioneer
Mitchel Pioneer May 25, 2022 9:59AM ET
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The magic show opens with another round of FRAUD, as the US Ponzi Scheme is criminally manipulated green at the open.  Another routine day in the BIGGEST INVESTMENT JOKE IN THE WORLD.
jason xx
jason xx May 25, 2022 9:59AM ET
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how much did you lose this time?
Jit Patel
Jit Patel May 25, 2022 9:59AM ET
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Haha
James Johannsen
James Johannsen May 25, 2022 9:59AM ET
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the fed keeping the turrd polished
First Last
First Last May 25, 2022 9:59AM ET
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S&P 500 was red at open
Ryan Lennon
Ryan Lennon May 25, 2022 9:59AM ET
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again...you don't like the market don't play the game...simple.
 
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