Wall St. rallied as investors saw further signs of dovishness in the Federal Reserve September meeting minutes. Bobbi Rebell reports.
Stocks rose after the release of minutes from the last Federal Reserve meeting. Some investors interpreted it to mean the Fed was less inclined to raise interest rates. Wealth manager Ajay Gupta: SOUNDBITE: AJAY GUPTA, CEO, GUPTA WEALTH MANAGEMENT (ENGLISH) SPEAKING: "The minutes that came out didn't have any surprises. They were thinking about raising rates in September, but they thought, with what's happening overseas, maybe let's wait another quarter before the next meeting, and then decide." Another sign of economic strength: Jobless claims fell more than expected last week to a 42-year low. PC maker Dell is in talks to buy data storage giant EMC, a source says. EMC shot higher. Shares shook up at Shake Shack. The burger chain is selling up to 26 million shares. Shares of GoPro dropped further one day after Morgan Stanley nearly halved the price target of the action camera maker. Across the pond, car stocks drove European shares higher.