NEW YORK: Wall Street stocks kept up their winning streak early Wednesday, rising ahead of the release of the Federal Reserve’s meeting minutes, which are expected to illuminate views on the economic outlook.
About 45 minutes into trading, the Dow Jones Industrial Average was up 0.6 percent at 23,928.26.
The broad-based S&P 500 climbed 0.4 percent to 2,583.92, while the tech-rich Nasdaq Composite advanced 0.5 percent to 6,932.00.
After a bruising December, US stocks have been on the upswing since Friday, when Federal Reserve Chair Jerome Powell signaled to markets that the US central bank would take a cautious approach to further interest rate hikes.
Stocks have risen the last three sessions despite an ongoing US government shutdown. On Wednesday, an official with Fitch Ratings told CNBC the US credit rating could be downgraded if lawmakers are unable to pass a budget or manage the debt ceiling.
The Fed minutes that will be released later Wednesday deal with the December rate hike and will add color to how the central bank grappled with signs of slowing global growth.
Economists predict US growth will slow in 2019 and some expect a possible recession in 2020. —AFP