All Eyes On Fed Minutes As US Stocks Open Flat [VIDEO]

  @JessicaMenton j.menton@ibtimes.com on
Wall Street Mixed Ahead Of Fed Minutes
U.S. stocks were little changed on Wednesday, ahead of the release of the latest minutes from the Federal Reserve's June FOMC meeting.

U.S. stocks were little changed on Wednesday, ahead of the release of the latest minutes from the Federal Reserve's June FOMC meeting. Investors will eye the FOMC’s minutes for any clues as to when the Fed will start to scale back its stimulus program.

After the minutes are released, Federal Reserve Chairman Ben Bernanke will speak will speak at 4:10 p.m. from the National Bureau of Economic Research conference. 

As for economic data on Wednesday, wholesale inventories fell in May as the Commerce Department said inventories dropped 0.5 percent during the month.

In earnings news, Family Dollar reported $1.05 profit per share and raised its outlook.

On the international front, Chinese trade data for June came in much weaker than expected on Wednesday, and the Shanghai Composite rallied on hopes that the People's Bank of China could ease monetary policy to boost growth.

As of 10:24 a.m. Eastern Time, the Dow Jones Industrial Average added 16.44 points, or 0.11 percent, to 15,316.78. The S&P 500 Index gained 0.62 points, or 0.04 percent, to 1,652.94. The Nasdaq Composite Index rose 8.15 points, or 0.23 percent, to 3,512.41.

 

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