Major indexes traded near session lows in the afternoon Wednesday. The Dow Jones Industrial Average fell 0.3% at 1:30 p.m. ET.
Minutes of the Federal Open Market Committee's July meeting are due at 2 p.m. ET. In July, Fed Chair Jerome Powell signaled that monetary policy was "restrictive" and was "putting downward pressure on economic activity and inflation." While July's CPI rose 0.2% from June, in line with consensus, factory orders for June and July's retail sales were stronger than views.
The CME FedWatch Tool sees an 88.5% chance of a rate-hike pause in September and a 35.3% chance of a 25-basis-point hike in November.
The S&P 500 fell 0.4%. Chip stocks weighed on the Nasdaq, with the tech-heavy index down 0.7% in early afternoon trading.
Volume was lower on the NYSE but higher on the Nasdaq vs. the same time Tuesday.
The small-cap Russell 2000 and the Innovator IBD 50 ETF fell by more than 0.5%.
Crude oil reversed and rose slightly to trade at $81.08 a barrel.
The yield on the benchmark 10-year Treasury note rose 1 basis point to 4.23%.
Dow Jones Stocks On The Move
Walmart is in buy range from a 154.64 entry ahead of earnings on Thursday, according to MarketSmith's pattern recognition on WMT stock's weekly chart.
Cisco Systems reports its fiscal fourth-quarter results after the closing bell Wednesday. Shares are at the top of a buy zone from a 50.58 entry.
Intel fell. The chip leader is backing off from a $5.4 billion acquisition plan to buy specialty foundry Tower Semiconductor due to delays in getting regulatory approval. Shares are back at a buy point of 33.84 where they are testing the 50-day line.
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Stocks Moving Today
Outside the Dow Jones, Target rose after a spike in second-quarter earnings, though the top line declined. The retailer also lowered its guidance for the year. Shares are retaking the 50-day moving average.
Retail stock TJX Cos. was also up after earnings. The stock is at an all-time high.
Warren Buffett's Berkshire Hathaway holding Occidental Petroleum fell at the hour. Late Tuesday, news that it will acquire Carbon Engineering for $1.1 billion showed yet another step forward for the company's goal of achieving net-zero emissions.
Coherent has gapped down below the 200-day line after it released earnings late Tuesday.
Tesla fell in the stock market today. The EV maker is making fresh price cuts on certain models in China.
Coinbase pared back some of its early gains after regulators allowed the exchange to list crypto futures on its platform. COIN is testing support its 50-day line.
Among retail restaurants, Cava also reversed and fell after earnings, also late Tuesday.
Agilent Technologies lowered full-year revenue guidance late Tuesday. Shares fell to the 50-day line in afternoon trading.
Analog Devices has fallen 7% from its buy point of 193.14, triggering a sell rule. Shares are breaking support at the 200-day line.
Housing starts in July came in at 1.452 million vs. the consensus of 1.455 million. Building permits of 1.442 million were below views of 1.464 million, according to Econoday.
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