Stocks open higher as Dow up about 100 points

Stocks were off to a good start Wednesday as the Dow Jones industrial average jumped more than 100 points at the open.

Investors are eagerly awaiting the minutes from the latest meeting of Federal Reserve policymakers to get clues on the potential timing for interest rate hikes.

The Dow Jones industrial average was up 0.8% and the Standard & Poor's 500 index gained 0.5%. The Nasdaq composite index rose 0.6%.

NEW: USA TODAY's live markets blog

The Fed releases the minutes of its April 29-30 meeting at 2 p.m, ET. After that meeting, the Fed said it would further cut its bond purchases because the U.S. job market needed less help.

It also reaffirmed its plan to keep short-term rates low to support the economy "for a considerable time" after its bond purchases end, likely late this year. It offered no specific timetable for a rate increase.

Retailers were in focus again Wednesday. Target said first-quarter profit fell 16% as losses in its Canadian operation and costs of last year's data breach took a toll, The results missed Wall Street estimates. Shares were up 0.1%.

Top 5 Companies To Invest In 2015

Lowe's stock fell 0.8% after the retailer missed Wall Street estimates.

Overseas, European markets were higher. Britain's FTSE 100 was up 0.1% and Germany's DAX was up 0.6%.

Asian markets were mixed. Japan's Nikkei index fell 0.2% to 14,042.17 and Hong Kong's Hang Seng index was flat at 22,836.52.

Contributing: The Associated Press