Wall Street creeps higher; Fed minutes eyed
(WorldNews Business)

By Tanya Agrawal REUTERS - U.S. stocks were modestly higher late on Wednesday morning, aiming for a fifth straight day of gains, as investors awaited Federal Reserve minutes of its May meeting that could cement the chances of an interest rate hike next month. U.S. interest rates futures were steady. Fed funds futures implied traders priced in about an 83 percent chance of a rate hike in June, little changed from Tuesday`s close. Investors are also awaiting more details regarding the Fed trimming its $4.5 trillion balance sheet, when the central bank releases the minutes at 2 p.m. ET (1600 GMT). `The real take from the Fed is that a June rate hike still seems to pretty much baked in the cake...