While you were sleeping: Wall St rebounds on Fed minutes

Wed, 06 Jul 2016

By Margreet Dietz July 7 (BusinessDesk) - Wall Street gained, recovering from earlier losses, after minutes from the June Federal Reserve meeting cemented bets US interest rates won’t rise any time soon, while the latest data on the US economy were better than expected. Last month’s weaker-than-expected US jobs data as well as the prospect of a Brexit weighed on the decision of Fed officials to keep rates steady at the June 14-15 meeting. "Participants generally agreed that it was advisable to avoid overreacting to one or two labour m...

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