(MENAFN– ecpulse)
U.S. stocks opened little changed Wednesday, slightly affected by weaker-than-expected data from China and as investors await the release of minutes from the Federal Reserve’s last meeting in June.
The Dow Jones Industrial Average gained 0.11% or 15.55 points to 15315.66. The S&P 500 index rose 0.03% to 1652.84. The NASDAQ composite index climbed 0.20% to 3511.43 points. As of 10:10 a.m. ET
China warned on Wednesday of a "grim" outlook for trade after data showed exports fell 3.1 percent in June against forecasts for a rise of 4 percent. However, the data fueled speculation the China`s central bank may ease policy in an effort to boost growth.
Later in the session at 2:00 p.m. EDT (1800 GMT), the minutes from the June 18-19 meeting of the U.S. Federal Open Market Committee will be released and perused by investors for any signs of the central bank`s plan to trim its bond buying program.
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.
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.
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 .
After the close, earnings are expected from fast-food restaurant operator Yum Brands Inc.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.