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Wall Street climbs; Fed minutes confirm inflation jitters

Thursday, January 05, 2017 - 01:24

U.S. shares ended higher on Wednesday even after minutes from the Federal Reserve's December meeting showed concerns that quicker economic growth under President-elect Donald Trump could require faster interest rate increases to ward off inflation. Bobbi Rebell reports.

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Investors still on the hunt for Dow 20,000. Stocks moved higher on Wednesday but still fell short of the benchmark. Peter Costa is President of Empire Executions: SOUNDBITE: PETER COSTA, PRESIDENT, EMPIRE EXECUTIONS (ENGLISH) SAYING: "I think you are getting to a very very toppy market and you know 20,000 is a great number but the reality is, is it going to 25,000 this month? No, it's not going to." Minutes from the last Fed meeting of 2016 showed policy makers were concerned that quicker economic growth under President-elect Donald Trump could require faster interest-rate increases. Amazon doubled its deliveries this holiday season for third- party vendors. The world's largest retailer had already said the 2016 holiday season was its best ever. Macy's however reporting declining traffic and announcing plans to close 68 stores. Both General Motors and Ford shares rose after posting better-than-expected U.S. sales in December. Weight Watchers stock soaring after Sidoti and company raised its price target. Oprah Winfrey recently revealed she lost 42 pounds on the diet. Deutsche Bank has agreed to pay $95 million to resolve a U.S. government lawsuit accusing the German bank of using shell companies to evade significant tax liabilities in 2000, according to court papers filed on Wednesday. The European major country indexes were relatively flat with modest gains.

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Wall Street climbs; Fed minutes confirm inflation jitters

Thursday, January 05, 2017 - 01:24