Business Standard

Wall Street rises on growth stocks ahead of Fed minutes; Nasdaq up 0.8%

Nordstrom climbs after raising profit outlook; and Tesla Inc underpinned the gains on the Nasdaq with advances of 1% and 2.1%, respectively

Wall Street

(Photo: AP/PTI)

U.S. stock indexes shook off early weakness to trade higher on Wednesday as growth stocks rallied, with investors awaiting minutes from the Federal Reserve's May meeting for clues on the path of its policy tightening.

The central bank had at its May 3-4 meeting increased interest rates by half a percentage point, the biggest jump in 22 years. Minutes of that session, due to be released at 2 p.m. EDT (1800 GMT), could start shaping the debate over what happens when they meet in June and July to fight surging prices.

"You will see a little more of a hawkish tone (today)

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First Published: May 25 2022 | 10:09 PM IST

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