Target (TGT) surpassed estimates across the board: profit, revenue and same-store sales. Digital also grew 155 percent. Gross margin beat estimates by a full percentage point after effective merchandising reduced markdowns.
The Fed held FOMC meeting on September 25th and 26th and decided to raise short-term interest rates by 0.25%. After the FOMC meeting, Federal Reserve Board members and Federal Reserve Bank presidents released Summary of Economic Projections, which showed the same FFR projection as last time.