U.S. stocks opened higher on Wednesday morning ahead of the latest Federal Reserve's minutes, which will offer investors clues on future interest rake hikes this year. "Investors are looking at expectations of rates going up, but not right away, in a measured pace," said Andre Bakhos, managing director at Janlyn Capital. A slide in inflation readings in recent months, which remain below the Fed's 2 percent target rate, have made the markets skeptical about a rate hike by December.
Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is ridiculous.
Stocks opened on the advance Wednesday, despite some weak early housing data, as the Nasdaq and S&P 500 looked to revive their rebounds stalled on Tuesday.