Market Rebounds Amid Fed Minutes and Earnings Anticipation

Wall Street's key indexes rose as investors analyzed Fed meeting minutes, anticipating inflation data and earnings. Alphabet's shares dropped due to antitrust concerns. Trading was influenced by a strong jobs report, oil price changes, and Hurricane Milton's approach. The market awaits the Consumer Price Index and corporate earnings.

On Wednesday, Wall Street's main stock indexes climbed as investors processed Federal Reserve meeting minutes, gearing up for inflation data and earnings reports. Despite the general market uplift, Alphabet faced a 2.5% decline on potential antitrust actions from the U.S. Department of Justice.

The Fed minutes highlighted that a 'substantial majority' advocated for a significant half-point rate cut, leading to traders revising their expectations. This led to a mixed outlook on November's rate cut probabilities, swaying between a reduction and holding steady, per CME's FedWatch tool.

Oil prices dipped, aiding market sentiment, while investors braced for Hurricane Milton's landfall. Cruise line stocks surged, with Norwegian Cruise Line gaining 10% after a Citi upgrade. The S&P 500 sectors mostly rose, despite challenges for utilities, real estate, and communications, alongside Boeing's slump on union negotiation setbacks.

(With inputs from agencies.)