U.S. Stocks Inch Higher Amid Anticipation of September Rate Cut

U.S. stocks saw a modest rise as investors reacted to a steep downward revision in payroll data and awaited the Federal Reserve’s anticipated rate cut in September. The minutes from the Fed's recent meeting hinted at a possible rate reduction. Market reactions varied, with movements seen in the Nasdaq, Dow, and S&P 500.

U.S. stocks edged higher on Wednesday in a session marked by range-bound trading. Investors digested a significant downward revision in payrolls and closely watched the release of minutes from the Federal Reserve's most recent meeting, which bolstered expectations for a potential September rate cut.

The S&P 500 and Nasdaq closed in positive territory, with the Nasdaq leading gains. The Dow remained largely unchanged. The Fed's July meeting minutes indicated a strong inclination towards a rate cut, even prior to recent disappointing economic reports.

Market participants are now turning their attention to the upcoming Jackson Hole Economic Symposium, where Fed Chair Jerome Powell is scheduled to speak. Additionally, mixed performances were noted among major sectors, with consumer discretionary shares outperforming and financials lagging.

(With inputs from agencies.)