Key Takeaways

• The Dow, S&P 500, and Nasdaq were little changed at midday Wednesday ahead of minutes from the Federal Reserve’s latest policy meeting.
• Target and TJX shares rose after the retailers posted better-than-expected results and raised their outlooks.
• Macy's shares fell after the company warned soft consumer spending and increased promotions were hurting sales.

The Dow, S&P 500, and Nasdaq were little changed at midday Wednesday ahead of minutes from the Federal Reserve’s latest policy meeting.

Target ( TGT ) shares soared after the retailer exceed earnings and revenue estimates and raised its guidance as it benefitted from lower prices. Lower prices also helped discount chain TJX ( TJX ) beat forecasts and lift its outlook.

Analog Devices ( ADI ) shares gained as the chipmaker posted better-than-expected results as well.

Macy’s ( M ) shares tumbled as the department store chain reported a drop in revenue and cut its outlook. The company warned soft consumer spending and increased promotions were hurting sales.

Shares of Franklin Resources ( BEN ) declined after the investment manager announced Ken Leech, the Co-CIO of its Western Asset Management Unit, was on a leave of absence after receiving a Wells Notice from the Securities and Exchange Commission (SEC) .

American Express ( AXP ) shares declined as Bank of America cut its rating on the stock over concerns about a slowdown in consumer spending.

Oil futures rose and gold prices fell. The yield on the 10-year Treasury note was down. The U.S. dollar lost ground to the euro, pound, and yen. Most major cryptocurrencies traded in the green.

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