U.S. stock-index futures were little changed ahead of closely watched Federal Reserve minutes that could give clues to the timing of a first interest-rate hike.
Futures for the Dow Jones Industrial Average rose 22 points to 18,305, indicating another rise after the record close it scored yesterday. Futures for the S&P 500 index added 0.60 point to 2,125.20 today, while those for the Nasdaq 100 index gained 5.75 points to 4,507.00.
Minutes from the central bank’s last meeting are due at 2 p.m. At the April 29 meeting, the Federal Open Market Committee downgraded its assessment of growth, blaming the bad winter weather, the West Coast port strike and a stronger dollar. The comments lowered expectations that the central bank would hike rates as soon as June.
MOVERS:
Etsy (NASDAQ:ETSY) tumbled 19 percent after the the global online marketplace for vintage and artisanal products said the stronger dollar is hurting sales overseas.
Lowe’s (NYSE:LOW) tumbled 6 percent in early trading after the home-improvement retailer reported first-quarter profit that trailed analysts’ estimates.
Staples (NASDAQ:SPLS), the world's largest office-supply chain, fell 1.5 percent after saying quarterly sales declined.
Autodesk (NASDAQ:ADSK) slipped 1.8 percent after the design software and services company cut its full-year profit and sales forecasts.
Yahoo! (NASDAQ:YHOO) climbed 3.1 percent after affirming plans to spin off a stake in Alibaba Group Holding Ltd.
Sarepta Therapeutics (NASDAQ:SRPT) surged 46 percent after the biopharmaceutical company plans to submit an application to U.S. regulators for a muscular dystrophy treatment.
Computer Sciences (NYSE:CSC) jumped 4.5 percent the provider of IT services said it will split into two publicly traded companies. It also plans to pay a special cash dividend of $10.50 a share by October.
Target (NYSE:TGT) rose 1.6 percent to after reporting a better-than-expected 52 percent increase in profit in its first quarter as its stores attracted more shoppers who spent more on average.
Pep Boys Manny Moe and Jack (NYSE:PBY) rose 14.1 percent to $9.25 on a report that the auto parts retailer had received takeover approaches.
COMMODITIES:
Gold edged higher today. Spot gold was up 0.2 percent at $1,209.58 an ounce, while U.S. gold futures for June delivery were $2.60 higher at $1,209.30.
Brent futures rose 85 cents to $64.87 a barrel. U.S. crude prices rose 58 cents to $58.57 a barrel.
OTHER MARKETS:
European stocks slipped Wednesday. Germany’s DAX 30 was off 0.4 percent at 11,802, and France’s CAC 40 was lower by 0.3 percent at 5,103.