By Liz Moyer

Investing.com — U.S. stock opened lower but rose on Wednesday as a result of release of minutes of the Federal Reserve’s most recent meeting. The Federal Reserve was concerned about weak retail earnings reports continuing to impact consumer sentiment.

The rose by 31 points or 0.1% at 9:47 am ET, and rose 0.1% and 0.2% respectively.

On Wednesday the Federal Reserve will release minutes from its previous meeting. This was when the Federal Reserve raised interest rates by half of a point to counter inflation. It is likely that the central bank will make another move at next month’s meeting. Investors will however be looking through today’s minutes to find any clues it may slow down rate increases. Investors are concerned that the Fed’s aggressive approach to beating down inflation might cause the economy to stagnate and lead it into recession. This view has been reinforced by a massive slowdown in home sales, and recent comments from retailers about consumer shopping trends.

Shares of retailer Dick’s Sporting Goods Inc (NYSE:) fell 6% after it reported a weaker-than-expected 2022 outlook because of the challenging economic conditions. The most recent reported beat sales and profits expectations. The other side, however, Nordstrom Inc Shares of (NYSE:) rose 7.2% following an increase in its forecast for this year’s second consecutive year. This was because its wealthy customers purchased tickets for the return to social events and work events.

Shares of burger chain The Wendy’s Co (NASDAQ:) jumped more than 9% after activist fund Trian Fund Management disclosed that it has approached the company’s board about a transaction such as an acquisition, merger, or tender offer.

NVIDIA Corporation (NASDAQ) shares rose 2.3% in advance of earnings by the chipmaker after this evening’s closing bell.

Oil ticked higher. The price of oil rose 0.7% from $110.56 to $111.56 per barrel. It also rose 0.7% at $111.56 to $111.56/barrel. The price of an ounce fell to $1,850