© Reuters.
By Liz Moyer
Investing.com — U.S. stocks fell were mixed on Wednesday after a weak outlook from Target fueled fears that inflation was going to hurt retailers this holiday season.
At 10:37 ET (15:37 GMT) the was up 31 points, or 0.1%, while the was down 0.5% and the was down 1.3%.
Target Corporation (NYSE:) shares fell 13% on its , in which it blamed inflation and shifting consumer spending for a drop in demand. Its early promotions for the holiday shopping season cut into profit.
U.S. rose 1.3% in October, which was more than the 1% expected after a muted September.
Investors have been clinging to any signs that is cooling so the Federal Reserve can start to ease back on the size of its interest . The market is that while interest rates will rise again next month, the Fed will raise its benchmark rate by just a half of a percentage point, rather than the 0.75 percentage point it has moved rates higher in each of its last four meetings.
Shares of home improvement retailer Lowe’s Companies Inc (NYSE:) rose 4.7% after it raised its profit forecast for the year, a contrast to Target.
Oil fell. was down 1.9% to $85.22 a barrel, while crude fell 1.4%, to $92.55. rose to around $1781.
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