The question of our time for investors remains when will interest rates rise? Fed Minutes released Wednesday only enhanced the debate and doubts within the Fed. Friday Fed Chair Janet Yellen will try to for some clarity when she makes her views known at Jackson Hole.
In the meantime, stock markets which were up fell slightly shortly after the Minutes were released only to rise again to close higher. But the Minutes did cause the bond yield curve to flatten which isn’t a good thing long term.
Earnings news featured retailers with Target (TGT) disappointing news leading investor interest. And, naturally the results were weak and so was forward guidance. But in this bizzaro world currently the stock rallies nearly 2%. Not all results were weak