US STOCKS-Wall St inches up with Fed minutes on tap; retailers resilient

miércoles 20 de agosto de 2014 12:00 GYT
 

* Lowe's pares losses, Target rebounds, after dim forecasts

* Hertz tumbles after withdrawing forecast

* Fed minutes due at 2:00 p.m. EDT (1800 GMT)

* Dow up 0.19 pct, S&P up 0.12 pct, Nasdaq up 0.03 pct (Updates to midday)

By Chuck Mikolajczak

NEW YORK, Aug 20 (Reuters) - U.S. stocks inched higher Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors brushed off bleak earnings forecasts from some retailers like Lowe's and Target.

Investors will peruse the Fed minutes, which will be released at 2:00 p.m. (1800 GMT), for clues on how soon the central bank plans to hike interest rates. At a two-day meeting of the Federal Open Market Committee in July, the Fed had trimmed its monthly bond-buying program by an additional $10 billion.

An annual meeting of top central bankers in Jackson Hole, Wyoming, from Thursday through Saturday, will also be eyed for possible insight into the path for U.S. monetary policy.

"We know what is going to happen this year, we are looking into next year and for that we need the sort of stuff that comes out of this conference," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.   Continuación...