U.S. stocks traded modestly lower Wednesday as investors took a cautious stance ahead of Federal Reserve minutes that could reveal if a rate increase in 2016 is likely. The Dow Jones Industrial Average , was off 24 points, or 0.1%, at 18,528, the S&P 500 index , was 0.1% lower at 2,176, while the Nasdaq Composite Index gave up 5 points, or 0.1%, at 5,221. Minutes from the Federal Open Market Committee’s July 26-27 meeting are set for 2 p.m. Eastern Time, and will be closely pored over for signs of the timing and pace of increases to key interest rates. Additionally, St. Louis Fed President James Bullard will speak about monetary policy at the Wealth and Asset Management Research Conference at Washington University in St. Louis at 1 p.m. In corporate news, Aetna Inc. told the Justice Department that it would reduce its exposure to Affordable Care Act exchanges, known as Obamacare, if its planned merger with Humana Inc. , was blocked. Meanwhile, shares of Valeant Pharmaceuticals International Inc. were soaring, up more than 11%, after Morgan Stanley issued a bullish research report on the embattled drug maker.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News