Scoreboard: Fed breather

Wall Street lifted on news the Federal Reserve is in no rush to raise interest rates, while European markets ended slightly lower as investors poured through profit results.

According to minutes from the last Federal Reserve meeting some members were encouraged by recent developments: "Labor market conditions had moved noticeably closer to those viewed as normal in the longer run." But then the report noted: "Most Fed policymakers wanted more evidence before changing rate views."

In US economic data, the mortgage market index rose by 1.7 per cent last week with purchases down 0.7 per cent and refinancing up by 2.7 per cent.   

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