(MENAFN– ecpulse) U.S. stock futures edged slightly lower Wednesday as investors settled on the sidelines to wait for the minutes of the Federal Reserve’s latest meeting, which is expected to give more insight into the Fed’s stimulus plans. A speech by Fed Chairman Ben S. Bernanke will also be anticipated today.
Futures on the Dow Jones Industrial Average dropped 0.020% to 15219 points. The S&P 500 index futures lost 0.115% to 1643.70. The NASDAQ 100 futures lost 0.084% to 2971.75 points. As of 07:09 a.m. ET
Investors will get another look at the debate over the Fed’s bond buying program, as the Central Bank will release the minutes of the June 18-19 Federal Open Market Committee meeting at 2 p.m. Eastern Time. At a press conference following the last meeting, Bernanke said tapering could begin later this year.
Markets have seen a great deal of volatility in the second quarter, as investors scrutinized major economic data on the U.S. economy on whether the data will have any effect on the Fed’s next move on monetary policy.
Also on tap Wednesday is Fed chairman Ben Bernanke`s speech before the National Bureau of Economic Research in Cambridge, Mass., scheduled after the markets close, with questions and answers to follow.
The Census Bureau will release data on wholesale inventories at 10 a.m. ET.
U.S. stocks have been moving higher over the past few trading sessions due to underlying optimism about earnings reports for the quarter ended in June, which began coming in this week. The major stock indexes are hovering around all-time highs set in late May .
More company results are due Wednesday, with restaurant operator Yum! Brands set to report earnings of 54 cents per share, due after the close.
Stocks in China saw volatile trading after the country reported an unexpected drop in exports. Analysts said it’s likely that a continued effort by the government to eliminate the practice of inflation export receipts contributed to the fall. Japan and South Korean shares also declined.
Stocks in Europe turned to losses by late morning trade, trailing Asian stocks, as investors waited for the Fed minutes. Italian stocks were under pressure after Standard & Poor’s cut the country’s sovereign debt rating to BBB late Tuesday. Spanish stocks were also under pressure.
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