US open: Stocks mixed as investors await Fed minutes, digest retail earnings.


Wall Street trading got off to a mixed start on Wednesday, as market participants digested quarterly earnings from some of America's major retailers ahead of minutes from the Federal Reserve's July meeting.

Source: Sharecast

As of 1455 BST, the Dow Jones Industrial Average was up 0.16% at 44,995.66, while the S&P 500 lost 0.27% to 6,393.99 and the Nasdaq Composite came out of the gate 0.79% lower at 21,145.61.

The Dow opened 73.39 points higher on Wednesday, extending modest gains recorded in the previous session as a result of a boost from a post-earnings jump in Home Depot shares.

Wednesday's primary focus will be minutes from the Federal Reserve's most recent policy meeting at 1900 BST, with investors set to keep an eye out for any hints as to just what the central bank may be thinking ahead of its September meeting.

The minutes also come ahead of remarks from chair Jerome Powell on Friday, with traders also monitoring for insights into future interest rate policy. Fed funds futures were currently pricing in a nearly 85% chance that the central bank will lower interest rates at its next meeting.

Elsewhere on the macro front, US mortgage applications fell 1.4% in the week ended 15 August, according to the Mortgage Bankers Association of America, trimming the prior week's 10.9% surge. Applications to refinance a mortgage, which are more sensitive to short-term rate changes, fell by 3.1%, while applications to purchase a home were broadly flat week-on-week.

In the corporate space, Lowe's delivered solid second-quarter results on Wednesday, with earnings and revenue both topping analyst expectations despite a challenging start to the quarter, while Target posted mixed Q2 figures, with earnings per share of $2.05 narrowly beating expectations, even as revenues dropped 0.9% year-on-year to $25.2bn.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Amgen Inc. (AMGN) $297.85 1.50%
Walgreens Boots Alliance, Inc. (WBA) $12.06 0.42%
Walmart Inc. (WMT) $101.29 0.00%
International Business Machines Corporation (CDI) (IBM) $241.28 0.00%
Verizon Communications Inc. (VZ) $44.94 0.00%
JP Morgan Chase & Co. (JPM) $290.66 0.00%
Boeing Co. (BA) $225.00 0.00%
3M Co. (MMM) $154.34 0.00%
Coca-Cola Co. (KO) $70.13 0.00%
Procter & Gamble Co. (PG) $158.40 0.00%

Dow Jones - Fallers

Intel Corp. (INTC) $23.97 -5.91%
Apple Inc. (AAPL) $228.68 -1.04%
Microsoft Corp. (MSFT) $508.34 -0.96%
3M Co. (MMM) $154.34 0.00%
Coca-Cola Co. (KO) $70.13 0.00%
Procter & Gamble Co. (PG) $158.40 0.00%
Walmart Inc. (WMT) $101.29 0.00%
International Business Machines Corporation (CDI) (IBM) $241.28 0.00%
Verizon Communications Inc. (VZ) $44.94 0.00%
JP Morgan Chase & Co. (JPM) $290.66 0.00%

S&P 500 - Risers

Verisk Analytics Inc. (VRSK) $273.76 3.38%
Jack Henry & Associates Inc. (JKHY) $165.70 3.26%
Wynn Resorts Ltd. (WYNN) $112.71 3.03%
Alliant Energy Corp. (LNT) $66.42 2.33%
Sba Communications Corp. (SBAC) $221.83 2.32%
Willis Towers Watson Public Limited Company (WTW) $338.00 2.15%
Lam Research Corp. (LRCX) $100.72 2.15%
Ross Stores Inc. (ROST) $149.73 2.14%
Cintas Corp. (CTAS) $218.54 2.02%
O'Reilly Automotive Inc. (ORLY) $103.74 1.95%

S&P 500 - Fallers

Intel Corp. (INTC) $23.97 -5.91%
Nvidia Corp. (NVDA) $174.12 -4.09%
Micron Technology Inc. (MU) $117.86 -3.88%
Advanced Micro Devices Inc. (AMD) $164.27 -3.71%
Broadcom Inc. (AVGO) $291.65 -3.14%
Hasbro Inc (HAS) $79.49 -2.71%
Nektar Therapeutics (NKTR) $26.41 -2.71%
Meta Platforms Inc. (META) $742.03 -2.57%
Cadence Design Systems Inc. (CDNS) $345.07 -2.49%
QUALCOMM Inc. (QCOM) $154.96 -2.44%

Nasdaq 100 - Risers

Verisk Analytics Inc. (VRSK) $273.76 3.38%
Wynn Resorts Ltd. (WYNN) $112.71 3.03%
Lam Research Corp. (LRCX) $100.72 2.15%
Ross Stores Inc. (ROST) $149.73 2.14%
Cintas Corp. (CTAS) $218.54 2.02%
O'Reilly Automotive Inc. (ORLY) $103.74 1.95%
Analog Devices Inc. (ADI) $236.48 1.88%
T-Mobile Us, Inc. (TMUS) $258.95 1.76%
Texas Instruments Inc (TXN) $197.66 1.75%
Mondelez International Inc. (MDLZ) $63.14 1.71%

Nasdaq 100 - Fallers

Intel Corp. (INTC) $23.97 -5.91%
Baidu Inc. (BIDU) $85.64 -5.88%
Nvidia Corp. (NVDA) $174.12 -4.09%
Micron Technology Inc. (MU) $117.86 -3.88%
Liberty Global plc Series C (LBTYK) $11.38 -3.15%
Broadcom Inc. (AVGO) $291.65 -3.14%
Hasbro Inc (HAS) $79.49 -2.71%
Meta Platforms Inc. (META) $742.03 -2.57%
Cadence Design Systems Inc. (CDNS) $345.07 -2.49%
Liberty Global plc Series A (LBTYA) $11.36 -2.45%

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