Stocks Slip as Fed Meeting Minutes Stoke Concerns

Stocks experienced a volatile day on Wednesday as investors digested the latest retail earnings and awaited the release of the Federal Reserve’s July meeting minutes. Target’s disappointing second-quarter revenue and lowered full-year forecast overshadowed its higher-than-expected earnings. In contrast, analysts predict a positive earnings report for Nvidia, despite a 1% drop in its stock price. The Fed minutes indicated the possibility of future rate hikes, but also showed a decrease in the probability of a recession through 2024. Overall, the Dow Jones, S&P 500, and Nasdaq Composite all closed lower.