As the deadline for the release of the minutes of the Fed’s policy making committee November meeting approached, he main benchmarks were sitting pretty.
“Typically, these minutes only generate a modest market reaction; but given the outcome of the October meeting, and in turn, the expectations for the December 16 meeting, today's set of minutes may carry additional weight,” suggested Christopher Vecchio, a currency analyst at Daily FX.
The benchmark S&P 500 index was up 17 points, or 0.8%, at 2,067 in lunchtime trading, while the more narrowly-based Dow Jones 30-share was up 131 points (0.8%) at 17,621 while the tech-heavy Nasdaq Composite had advanced 49 points (1.0%) to 5,012.
Retail blue-chips Target and Staples were weighing on sentiment.
Target (NYSE:TGT) fell 5.3% to US$69.06 after the fourth-largest U.S. retailer reported a higher quarterly profit and raised the low end of its fiscal-year forecast.
Target reported slower growth in online sales and margin pressures.
Meanwhile, Staples decreased 4.5% to $11.89 after the world's largest retailer of office products said profit slipped in its latest quarter as sales remained under pressure.
Dago New Energy (NYSE:DQ) was among the pace-setters, surging 14.4% to US$13.91 on the release of its third quarter results.
The manufacturer of polysilicon used in solar panels saw a 17.8% decrease in the average cash cost of production, whereas the average selling price only declined 6.1%.
Revenue rose 35.9% to US$46.6mln from US$34.3mln in the preceding quarter, while underlying earnings (EBITDA) rose 78.6% quarter-on-quarter to US$15.0mln.
Chinese online discount retailer Vipshop (NYSE:VIPS) was wanted after its third quarter results released yesterday that showed a 63% increase in revenue and a 90% hike in net income.
Food-service and uniform provider Aramark Holdings (NYSE:ARMK) put on its glad-rags, rising 7.9% to US$31.95 on the back of stronger-than-expected third quarter profits.
In the final quarter of its financial year earnings per share (EPS) of 23 cents were up five cents from a year earlier; excluding exceptional items, EPS rose to 44 cents from 37 cents the year before, versus market expectations of 39 cents.
The shares climbed 11.7% to US$14.00.
Market preview
US stocks are set to open higher, albeit under the shadow of more terrorist activity in Europe.
Armed French police have raided an apartment in the north Paris suburb of Saint-Denis in an operation linked to Friday's atrocities. Three suspected terrorists were killed, while five police offers were wounded during the raid.
Meanwhile, the international football match scheduled last night between Germany and the Netherlands was called off because the authorities suspected a bomb attack on the stadium had been planned.
Later today, the Federal Reserve will publish the minutes from the most recent meeting of its policy makers, which should give investors food for thought.
“Following October’s surprisingly hawkish statement investors will be keen to investigate the nitty-gritty of the Fed’s last get-together in order to try and ascertain the likelihood of that a much talked-about December lift-off,” suggests Connor Campbell, of spread betting firm Spreadex.
Spread betting quotes indicate the Dow Jones will open around 35 points higher at 17,524 and the S&P 500 will start five points to the good at 2,055.
Ahead of the bell, updates are expected from retailers Target (NYSE:TGT). Lowe’s (NYSE:LOW) and Staples (NYSE:SPLS).