Stocks end higher after Fed minutes Stocks began the day higher following strong earnings reports from Target (TGT) and Lowe's (LOW), which confirmed Walmart's (WMT) signal last week that U.S. consumer spending remains robust. The release of the minutes from the Fed's last rate setting meeting had little impact on the averages as investors seem to be more interested in Fed Chair Powell’s speech Friday morning from the Jackson Hole symposium. ECONOMIC EVENTS: In the U.S., existing home sales rebounded 2.5% to a 5.42M rate in July, which beat estimates. In Federal Reserve news, minutes from the latest Fed meeting show that a July rate cut was viewed by "most" of the people on the FOMC as a "recalibration." In addition, the minutes showed that a "couple of participants" would have preferred a 50 basis point rate cut, while "several participants" favored maintaining the same target range at the meeting. TOP NEWS: Shares of Target (TGT) jumped 20.4% after the retailer posted an earnings beat and raised its full-year profit forecast. Target CEO Brian Cornell said the performance "demonstrates the strength of our strategy" and Wells Fargo analyst Edward Kelly agreed. Kelly upgraded Target to Outperform from Market Perform, stating that its "hard to ignore what's happening" at the retailer following its second quarter results, which he believes provide the "best evidence yet" that the company's strategy is working. Lowe's (LOW) also reported better than expected sales and earnings this morning, sending its shares up 10.2%. CEO Marvin Ellison noted that the company delivered positive comparable sales in all 15 geographic regions of the U.S. despite lumber deflation and "difficult weather," adding that he is "confident that we are on the right path to capitalize on solid demand in a healthy home improvement market." Meanwhile, Goldman Sachs (GS) was in focus after Reuters reported that the bank is working with advisers on a potential sale of Safe-Guard Products, which could value the auto warranty company at over $1B. Additionally, CNBC's Eamon Javers reported that U.S. President Donald Trump told him he has a better relationship with Apple (AAPL) CEO Tim Cook than with other tech executives. The president told Javers that Cook is the only major tech CEO who calls him directly and doesn't just "hire lobbyists." MAJOR MOVERS: Among the noteworthy gainers was SemiLEDs (LEDS), which jumped 30.4% after receiving an offer from a Chinese investor seeking to acquires 680,000 shares of the company's common stock at $3 per share. Also higher were Pinduoduo (PDD) and Urban Outfitters (URBN), which gained a respective 16% and 6.9% after reporting quarterly results. Among the notable losers was Jumia Technologies (JMIA), which fell 16.8% after reporting quarterly results and announcing that it has terminated and suspended employees involved in improper sales. Also lower after reporting quarterly results was Cree (CREE), which fell 15.8%. INDEXES: The Dow rose 240.29, or 0.93%, to 26,202.73, the Nasdaq gained 71.65, or 0.9%, to 8,020.21, and the S&P 500 advanced 23.92, or 0.82%, to 2,924.43. Symbols: $TGT $LOW $GS $AAPL $LEDS $PDD $URBN $JMIA $CREESource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.