IXIC: Nasdaq Composite Rises 0.6% as Mosaic of Data Awaits Release. Futures Tick Higher.

The Fed minutes are due today and inflation data is on deck tomorrow. The prints will help investors anticipate the Fed’s next move.

• The Nasdaq Composite IXIC led the leg up on Tuesday, notching a third day of gains, alongside its two peers. The tech-heavy index gained a modest 0.6% for the session, followed by a 0.5% advance in the S&P 500 and a 0.4% increase in the Dow Jones Industrial Average. Futures early on Wednesday were looking to the upside by about 0.2%.
• A pullback in treasury yields helped lift stocks across the board. The 10-year yield moved back by 0.13% to 4.654%, retreating from a 2007 high. Adding to broad-based optimism, Fed officials said this week they’re not looking to bump rates at the upcoming meeting, boosting the chances for a soft landing.
• On deck for today, the Federal Reserve will release its minutes from the last meeting three weeks ago. In the papers, markets will look for clues into the trajectory of interest rates. What’s more, inflation data will keep investors on their toes until the CPI report gets published tomorrow.