Wall Street falls as investors turn cautious ahead of G20

© Reuters. Traders work on the floor of the NYSE in New York

By Stephen Culp

NEW YORK (Reuters) – Wall Street eked out gains Thursday, reversing the session’s earlier losses after the U.S. Federal Reserve released minutes from its November meeting in which the central bank opened the debate on when to pause further interest rate hikes.

All three major U.S. indexes were up modestly.

The minutes showed almost all Fed members agreeing that another rate increase was “likely to be warranted fairly soon,” but also ticked off a series of issues that had begun weighing on their view of the economy.

Wall Street was lifted a day earlier by comments from Fed Chair Jerome Powell, that many investors read as signaling the Fed’s three-year tightening cycle is drawing to a close.

“The minutes seem to be consistent with Powell’s statement yesterday that while a December rate hike seems almost certainly on the cards a review of policy is warranted before additional rate hikes will occur next year,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab (NYSE:) in Austin, Texas.

The Dow Jones Industrial Average () rose 103.51 points, or 0.41 percent, to 25,469.94, the S&P 500 () gained 9.46 points, or 0.34 percent, to 2,753.25 and the Nasdaq Composite () added 27.87 points, or 0.38 percent, to 7,319.46.

The S&P 500 healthcare () and energy () sectors led the benchmark index higher.

Gains were muted as investors eyed the upcoming G20 summit in Buenos Aires, where U.S. President Donald Trump was due to meet his Chinese counterpart Xi Jinping on Saturday to discuss trade tensions between the world’s two largest economies.

Trump sent mixed signals on Thursday about a potential trade deal between the world’s two largest economies.

Technology shares weighed the most on

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