By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- After two days of selling led by momentum plays, U.S. stocks found their footing and opened slightly higher on Wednesday.

Investors await minutes from the most recent Federal Open Market Committee meeting due to be released at 2 p.m. Eastern Time. Also read: Minutes may shed some light on how and when the Fed will hike

The S&P 500 (SPX) opened 7 points, or 0.4%, higher at 1,970.63. The Dow Jones Industrial Average (DJI) added 51 points, or 0.3% to 16,958.24 at the open. The Nasdaq Composite (RIXF) began the day up 18 points, or 0.4%, at 4,408.01.

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"Investors will be hoping that June's Fed minutes, released later today, will provide some clarity and reassurance that (Federal Reserve Chairwoman Janet) Yellen can continue to hold sway over her more hawkish colleagues," said Rebecca O'Keefe, head of investment at stockbroker Interactive Investor, in a note. "However, if the strong employment data we have seen over the past week continue, that may not last."

Alcoa Inc. (AA) shares rose 3.5% after the company said it swung to a second-quarter profit late Tuesday.

Shares of Gigamon Inc.(GIMO) sank 33% after the networking-hardware company lowered its second-quarter revenue guidance on Tuesday.

Container Store Group Inc. (TCS) shares plunged 13% after the organization-product company posted a loss of 7 cents, a penny more than expected. (Read more in Movers and Shakers column: http://www.marketwatch.com/story/alcoa-container-store-wd-40-are-stocks-to-watch-2014-07-09.)

In overseas markets, Europe's Stoxx 600 headed for its fourth day in the red, while the Hong Kong Hang Seng index lost 1.6% after softer-than-expected inflation data from China.

Crude-oil prices (CLQ4) were largely stable, while gold (GCQ4) moved higher. The dollar (DXY) was mostly higher.

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