New York--US stocks opened lower Wednesday as investors weighed mixed earnings from retailers and awaited the release of the Federal Reserve minutes of the April monetary policy meeting.
Five minutes into trade, the Dow Jones Industrial Average fell 29.59 points (0.16 percent) to 18,282.80.
The broad-based S&P 500 dipped 3.18 (0.15 percent) to 2,124.65, while the tech-rich Nasdaq Composite Index dropped 9.13 (0.18 percent) to 5,060.91.
Discount chain Target rose 0.9 percent after reporting first-quarter profit surged 51.6 percent from a year ago to $635 million and raising its full-year earnings forecast.
Home improvement retailer Lowe's plunged 4.6 percent after its first-quarter results disappointed. Office supplies chain Staples reported a 39 percent plunge in first-quarter, citing store closures in North America and the stronger dollar. Staple slumped 2.4 percent.
Stocks had moved little Tuesday, with the Dow inching to a record high, after a robust US report on home construction.
Investors were keyed up for the release of the Fed minutes of the April 28-29 Federal Open Market Committee meeting, to be released in the afternoon, hoping to find insights into the Fed's plan to lift near-zero interest rates this year.
AFP
