Most Federal Reserve officials expressed concern at a meeting last month that the outlook for the US economy was weakening, and many said the Fed should soon cut rates if uncertainty continued to weigh on growth.
The benchmark S&P 500 breached the 3,000 points mark for the first time on Wednesday, as hopes of an interest rate cut later this month were lifted by Federal Reserve chief Jerome Powell's comment that the central bank would "act as appropriate" to sustain record USA growth.
"Concerns about the strength of the global economy continue to weigh on the U.S. outlook", Mr Powell said. "It needs a careful look, so I strongly believe we all need to be taking our time with this".
Worker pay isn't rising fast enough to push up inflation, Federal Reserve Chairman Jerome Powell says, even with the unemployment rate near a five-decade low. "So they figure keep trying this until something happens".
Asian shares inched ahead on Wednesday while higher Treasury yields lifted the dollar as markets wondered if the world's most powerful central banker would confirm or confound expectations for USA policy easing this month.
Meanwhile, the yield on 10-year Treasuries slipped to 2.04%.
The Nasdaq is up 1,567.25 points, or 23.6%.
Powell testifies to Senate Banking Committee on ThursdayECB minutes are due on Thursday.A key measure of USA inflation - the core consumer price index, due Thursday - is expected to have increased 0.2% in June from the prior month, while the broader CPI is forecast to remain unchanged.US producer prices are due on Friday. On Thursday, he will address the Senate Banking Committee.
Gold markets of course are reacting to the idea that the Federal Reserve is ready to cut interest rates, just as other central banks around the world are.
Some Fed watchers have suggested that cutting rates now would serve as an insurance policy of sorts by the central bank against a potential economic downturn.
Rapinoe addresses Trump as US parade World Cup trophy
The US defeated the Netherlands 2-0 on a penalty by Rapinoe and a strike by Rose Lavelle in the World Cup final on Sunday in Lyon. She added the Golden Boot and Golden Ball awards to her trophy collection thanks to her tournament performance.
The Fed has kept its current benchmark overnight interest rate in a range of between 2.25 percent and 2.50 percent since December.
After Powell's remarks and release of the Fed's minutes, interest rate futures appeared to price in greater odds of an aggressive rate cut this month.
The U.S. economy did not change much in the days that followed Trump's May 30 comments on Twitter threatening to impose tariffs on Mexico unless the country met his demands for tougher controls on immigrants crossing its northern border.
"The Fed has never disappointed a market with such strong expectations of action", Joseph Lavorgna, chief economist for the Americas at Natixis, wrote in a recent analysis.
Powell said last Friday's relatively strong U.S.jobs report had no impact on the Fed's economic outlook.
Despite the now low United States unemployment rate, he said inflation remains "muted" and wage growth is modest.
The only question left seems to be: How low will borrowing costs go this month?
Still, Wall Street expects Fed chair's congressional testimony to catalyze another messy clash with President Trump, who has made no secret of his disdain for the Powell-run central bank. The minutes show FOMC member concern over soft economic data such as the weak jobs report from April, weakening indicators for business confidence and spending, decreased manufacturing activity and the ongoing trade tensions - mainly between China and the US.
The former Liverpool star came back home only to find out his dog was stolen and some items including bags were also stolen. Straight up. 20 Gs. "All I care about is the dog being returned". 30 Gs, whatever.
Nintendo notes that there will be support for all existing Switch titles, although some games will have restrictions. In terms of controls, the Switch Lite ditches the detachable Joy-cons in favor of a solid built-in controller setup.
The couple ranked together at No. 20 after their "On the Run II" stadium tour earned them an estimated $5 million a night. Swift made the number one spot - which she also held in 2016 - thanks to her music, touring and endorsement deals.
Tyler Kreuger, Porch's boyfriend, said that even though he had no service midair, he still texted his parents: "I love you". A video recorded by a passenger shows how a metal nose cone was bouncing inside the engine as the aircraft was in the air.
It seems that Android Q will bring pull-down anywhere to bring the notification bar and quick-action buttons. Like other Android beta applications, it is a simple opt-in process - you do not want a special invitation.
While it sounds similar to the Amazon series, the company stands by its initial comments and states that it is a separate project. Check back here for more breaking news on the new Middle Eart game and Amazon's upcoming Lord of the Rings series.
Major told BBC Radio on Wednesday that Queen Elizabeth would have to approve any request to prorogue parliament. Sir John said "we carried the election until nearly the very last date" and it was an "absurd charge".
BP oil tanker sheltering in Gulf over fear of Iran attack
The ship "was navigating in worldwide waters", Deputy Foreign Minister Abbas Araghchi said at a press conference in Tehran. While the European Union has banned oil shipments to Syria since 2011, it had never seized a tanker at sea.
Biden apologises over comments about segregationists
De Blasio did not single out O'Rourke, but said "too many Democrats have been cozy with the charter schools". But now, he said, "they've got tons of organizers on the ground". 'Sure they were going to come after me.
Iran Appreciates France Efforts to Save Nuclear Deal: FM Spox
Wolcott reiterated that Washington believes the deal was ineffective, but remains "open to negotiation without preconditions". He warns London: "You are an initiator of insecurity and you will understand its repercussions", without elaborating.
The Raspberry Pi 4 Has a Flawed USB-C Port
It's actually normative , meaning mandatory, required by the spec in order to call your system a compliant USB-C power sink. As a result, the cable doesn't supply power, and your Raspberry Pi won't start up.
Injury-hit Australia call up Wade, Marsh
Wicketkeeper-batsman Wade and all-rounder Mitch Marsh were summoned on Sunday morning from the Australia A party, which is now touring England, as injury cover for Khawaja and Marcus Stoinis .
Bond yields creep higher as markets wait for Fed signals
Investors, as tracked by the CME Group, have assigned a 100 per cent likelihood to a rate cut when the Fed meets in three weeks. The president also said on Sunday that the Federal Reserve would cut interest rates if it "knew what it was doing".