US STOCKS-Wall St rebounds after selloff; Fed minutes due

miércoles 21 de mayo de 2014 10:46 GYT
 

* Fed meeting minutes due out at 2:00 p.m. EDT

* Tiffany shares jump after results

* Lowe's misses expectations, but sales better in May

* Indexes up: Dow 0.76 pct, S&P 0.56 pct, Nasdaq 0.59 pct (Updates to open, adds quote)

By Chuck Mikolajczak

NEW YORK, May 21 (Reuters) - U.S. stocks rebounded on Wednesday after a broad selloff in the prior session, ahead of the release of minutes from the most recent meeting of the U.S. Federal Reserve.

The Fed will release the minutes from its late-April meeting at 2:00 p.m. (1800 GMT), when the central bank looked past a dismal reading on first-quarter U.S. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus.

"I suspect they are going to continue this low interest rate environment, very accommodative monetary policy, for a very long period of time in an effort to help markets feel a little bit calmer as it relates to a hike in interest rates," said Joseph Tanious, global market strategist at J.P. Morgan Asset Management.

The gains put the S&P 500 on track for its third advance in the past four days. Equities have been uneven recently, however, and the benchmark S&P index is down about 1 percent from its record intraday high reached on May 13.   Continuación...