Wall Street Advances Ahead of Fed's Minutes

The U.S. stock market jumped in morning trading Thursday, with investors waiting for the Federal Reserve’s release of the minutes from its recent meeting at 2 p.m. Eastern time. At the last meeting, the Fed raised the target range for its benchmark policy rate to a range of 1.75% to 2%. Now, the market expects four rate increases in 2018.

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) plummeted almost 18% after Raymond James analyst Pavel Molchanov turned bearish. While the stock skyrocketed after the announcement of a strategic partnership with Total S.A. (NYSE:TOT), the analyst cut his rating to “underperform” from “market perform.” Despite the fall, the stock has climbed approximately 43% so far this year.

Gainers

Losers

Global markets

The main European stock markets traded in positive territory. The U.K.’s FTSE 100 advanced 0.40%, France’s CAC 40 gained 0.86%, Spain’s Ibex 35 climbed 1.05% and Germany’s Dax rose 1.12%.

In Asia, markets closed in negative territory. Japan’s Nikkei 225 fell 0.78%, India’s BSE Sensex lost 0.20%, Hong Kong’s Hang Seng retreated 0.21% and China’s Shanghai Composite slid 0.91%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio

Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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