U.S. stocks were set to drop as trading resumes on Wednesday after the Independence Day holiday, with investors looking ahead to the publication of the minutes from the latest Fed meeting.
The minutes from June’s Federal Open Market Committee will be released at 2 p.m. Eastern time and will be watched for clues as to how likely Fed officials are to push ahead with their signaled intention of up to two additional interest-rate hikes this year.
“Overall, the dot-plot projections and the post-meeting Fed communication suggest that markets may not find many hints to recalibrate their tightening expectations lower today. If anything, the trigger for such a dynamic would be weak U.S. data,” analysts at ING wrote in a research note on Wednesday.
Key U.S. data coming this week include Thursday’s release of job-openings numbers and Friday’s official jobs report for June.
Dow Jones Industrial Average futures were down 65 points, or 0.2%, early on Wednesday. S&P 500 futures were dropping 0.2%, while Nasdaq 100 futures fell 0.4%.
Source: https://www.barrons.com/livecoverage/stock-market-today-070523/card/u-s-stock-futures-fall-with-fed-minutes-in-focus-LmnvEKHRnmMACIuaO832?siteid=yhoof2&yptr=yahoo