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.
Follow MraketWatch's live blog of today's stock-market
action.
"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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