Business

Wall Street ekes gains amid Trump worries

NYSE traders Image copyright Getty Images

Wall Street shares finished slightly higher on Wednesday despite tensions between President Trump and some of the biggest US companies.

Two key White House business advisory councils were disbanded after several bosses quit over Mr Trump's handling of violent clashes in Virginia.

The main US stock indexes pared their gains on the announcement but still finished higher for the day.

The Dow Jones Industrial Average rose 0.1% to 22,024.87.

The S&P 500 also gained 0.1% to 2,467.37 and the Nasdaq Composite ended 0.2% higher at 6,345.11.

David Schiegoleit, managing director of investments at US Bank Private Wealth Management, said the tensions with the business councils "throws a little bit more doubt into the president's abilities to push his policies through."

Fed minutes

Investors also looked at the release of Federal Reserve minutes for clues about future action.

The minutes showed policymakers appeared increasingly wary about recent weak inflation.

Some Fed members called for a halt to further interest rate hikes until it was clear the trend was temporary.

On the stock markets, some retail shares gained after a positive retail sales report on Tuesday.

Clothes retailer Gap, whose brands include Athleta, Intermix and Old Navy, climbed 2.3% a day before the firm is due to report quarterly earnings to investors.

Target shares increased 3.6% after the firm said sales for the three months to the end of July increased 1.6% year-on-year.