Wall Street ekes out gains
Video Credit: Reuters Studio - Duration: 01:00s - Published
on April 10, 2019 < > Embed
Tech stocks led Wall Street slightly higher on Wednesday, with investors largely shrugging off benign U.S. inflation data and unsurprising minutes from the
Federal Reserve's March meeting.
Fred Katayama reports.
Wall Street ekes out gains
Investors largely shrugged off the minutes from the March Federal Reserve meeting.
Tech stocks drove the major indices higher Wednesday.
Nasdaq led with a seven-tenths percent gain.
The Fed minutes reaffirmed the central bank's patience regarding future interest rate hikes.
Gerber Kawasaki CEO, Ross Gerber: SOUNDBITE: GERBER KAWASAKI CEO, ROSS GERBER (ENGLISH) SAYING: "The Fed's got to play both sides of the fence here.
They don't want to say, there's no chance we're ever going to raise rates again and that closes some doors for them that they probably aren't going to need open anyways.
But I think it's the job of the Fed to sort of keep the markets a little bit on their toes and not just telegraph everything so easily." Shares of Levi Strauss jumped.
The iconic jeans maker swung to a quarterly profit from a loss after returning to the public markets last month.
Revenue rose 7 percent.
Delta Air Lines shares rose after the airline raised its revenue forecast for this year Snap shares dropped.
EMarketer downgraded its growth outlook for the parent of the Snapchat messaging app.
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