U.S. Stocks Little Changed Before Fed Minutes; Energy Declines

U.S stocks were little changed after a market holiday as investors awaited minutes from the Federal Reserve’s last meeting.

The S&P 500 was little changed at 9:45 a.m. in New York, after rising 0.2 percent in a shortened session before the July 4 public holiday. The S&P is 1 percent below a record last reached two weeks ago. The Dow Jones Industrial Average lost 40 points to 21,440.

  • Tech shares up 0.5% for biggest gain in early trading
  • Financial stocks little changed as real estate, utilities and telecom drop
  • 10-year Treasury yield little changed
  • Energy shares down 1%
    • Crude tumbled for a second day after Russia was said to oppose deeper cuts at an OPEC ministerial meeting later in July
  • POLITICS:
    • U.S. confirmed that North Korea’s rocket launch on July 4 was its first intercontinental ballistic missile. The United Nations Security Council will hold an emergency meeting later Wednesday
  • ECONOMY:
    • Clues about whether the Fed will begin reducing assets before another rate hike could come from the record of policy makers’ debate last month. Minutes of that June 13-14 meeting will be released at 2 p.m. on Wednesday in Washington
  • EARNINGS:
    • Today: Yum! Brands (YUM)
    • The earnings season kicks off next week, with banks including JPMorgan Chase & Co. and Citigroup Inc. reporting on July 14

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