State Street stock price target cut to $68 from $84 at Raymond James

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Breaking

Stock markets open with slight gains as Wall Street awaits Fed minutes

U.S. stock indexes opened with modest gains Wednesday as investors took an important reading of inflation, and updates from European and U.S. central banks. The Dow Jones Industrial Average rose 44 points, or 0.2%, to 26,195, the S&P 500 index climbed 0.2% to 2,883, while the Nasdaq Composite Index added 0.2% to 7,924. The European Central Bank announced Wednesday it made no changes to its interest rates or monetary policy measures, as expected, leaving its main lending rate at 0% and the deposit rate, which it pays on deposits parked overnight at the central bank, at negative 0.4%. Meanwhile, minutes of the Federal Reserve’s March meeting are to be released at 2 p.m. Eastern Time. On the data front, the Labor Department issued its reading of the consumer-price index, which showed prices rising at the fastest pace in 14 months. In corporate news, CEOs from JPMorgan Chase & Co. , State Street Corp. , Bank of America Corp. , Morgan Stanley , and Goldman Sachs Group Inc. , will testify about the health of the financial market on Capitol Hill Wednesday morning.

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