Wall Street closes higher
Fed minutes show fears on inflation
Trump in focus
US shares closed higher despite the turmoil, as ever, surrounding President Trump and his agenda.
The Dow Jones Industrial Index added over 25 to 22,024, the Nasdaq gained 12.10 to 6,345 and the S&P500 is 3.50 ahead at 2,468.
The TSX in Toronto closed down over 15 points at 15,082.
Earlier in London, FTSE 100 closed 49 ahead at 7,433, while other European indices also gained.
The closely watched Fed minutes were released showing the US Central Bank is faced with the problem of balancing sluggish inflation with a goal to start unwinding its $4.5 trillion asset portfolio.
In the political sphere, President Trump has announced the disbanding of two business advisory panels following departures of corporate leaders after criticism over his remarks about the weekend's violence in Charlottesville. It throws further uncertainty about his pro-growth economic policies.
US crude - West Texas Intermediate - shed 1.66% to US$46.75 a barrel.
MID-SESSION
US stocks were higher at mid-session, with the Dow Jones up 28 at 22,027 as traders eye Fed meeting minutes.
The mood appears to be bullish despite more negative headlines about the current White House resident, involving business advisory groups which are dissolving.
The Dow Jones rose over 31 at 22,029, while the S&P 500 added 3.47 at 2,468.
The tech heavy Nasdaq added 12.75 to stand at 6,346.
US crude, or West Texas Intermnediate, shed 1.37% to stand at US$46.90 a barrel.
Meanwhile, in Toronto, the TSX was up 33.5 points to stand at 15,131.
In companies, Urban Outfitters, Inc (NASDAQ:URBN) took a big leap on the day, adding over 17% to $19.75 on the day on the back of reported stronger-than-expected results for its second quarter.
Phoenix New Media Ltd (NYSE:FENG) added nearly 33% to $3.81 as the group reported second quarter net income of $3.7 million on revenues of $58 million.
On the losing side, Rave Restaurant Group Inc (NYSE: RAVE) tumbled 19.75% to $1.605 after it reported a $5 million equity rights offering.
Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!
— Donald J. Trump (@realDonaldTrump) 16 August 2017
OPEN
US shares started on the front foot as traders put geopolitical fears behind them and ahead of the latest Fed minutes.
They will be scrutinised to see if there may be any more interest rate rises this year.
The Dow Jones is on track for its fourth consecutive daily rise, and is up 71 points at 22,070.
The tech heavy Nasdaq added over 11 points at 6,344, while the broader based S&P 500 added almost seven at 2,471.
The TSX index - the largest Canadian benchmark, added over 55 points to stand at 15,153.
The oil price - West Texas Intermediate - added 0.46% to stand at US47.79 a barrel.
In Europe, the FTSE 100 is up almost 60 points at 7,443, while the German DAX is up over 123 points at 12,300.
In stocks, Dicks Sporting Goods Inc (NYSE:DKS) is up 2.72% to $27.62, while tech giant Amazon (NASDAQ:AMKZN) shares shed almost 1% to $974.72 as the US president Donald Trump said, via Twitter, the firm was hurting other retailers, implying that it’s killing industry jobs across the USA.
Meanwhile, Home Depot Inc (NYSE:HD) shares added 1.62% to $152.60 after a positive earnings report that posted its highest quarterly sales in the company's history.