U.S. stocks rose Wednesday ahead of the Federal Reserve releasing the minutes of its latest meeting, which will disclose the central bank’s economic outlook.
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The Fed was expected to release the minutes of its March meeting at 2 p.m. ET on Wednesday. Investors will be especially eyeing the bank’s view of inflation.
Financial stocks were lower as bank CEOs appeared before Congress, and the yield on the 10-year Treasury note dips below 2.5 percent to the lowest since April 1.
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Delta reported stronger-than-expected earnings and revenue for the first quarter.
“Demand for Delta’s product has never been stronger,” President Glen Hauenstein said in a statement.
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“With our customer-focused commercial initiatives delivering strong customer loyalty and top-line momentum, we now expect full-year revenue growth of 5% to 7%, an increase from our prior guidance.”
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26122.94 | -27.64 | -0.11% |
| SP500 | S&P 500 | 2881.97 | +3.77 | +0.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7929.4064 | +20.13 | +0.25% |
The Energy Information Administration was expected to say that crude oil stockpiles rose by 2.294 million barrels last week.
The price of the West Texas Intermediate, the benchmark U.S. crude, was hovering at a five-month high amid tight supplies resulting from OPEC-led output cuts and sanctions on Iran and Venezuela.
However, renewed concerns about economic growth have tempered the gains. A larger-than-expected build in oil supplies reported late yesterday by the American Petroleum Institute was also keeping a lid on prices.
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China’s Shanghai Composite closed up 0.07 percent, Hong Kong’s Hang Seng ended down 0.13 percent and Japan’s Nikkei 225 fell 0.53 percent.
Britain’s FTSE 100 was off fractionally, France’s CAC 40 added 0.38 percent and Germany’s DAX rose 0.57 percent.
