Stocks Rebound as Fed Says No Reason to Rush Rates: Markets Wrap

U.S. stocks clawed back early losses to trade higher after minutes from the most recent Federal Reserve meeting showed central bankers in no hurry to accelerate the pace of rate hikes even as the economy continues to improve. All major equity benchmarks rose despite escalating geopolitical fears following President Donald Trump’s decision to back away from a recently announced trade agreement with China. Tiffany & Co. surged as sales blew away estimates, while Target Corp. tumbled after its profit missed forecasts.