Stocks slip in early trading ahead of Fed minutes
NEW YORK (AP) — More weakness from retailers is sending the U.S. stock market slightly lower in early trading.
Investors were also on edge ahead of the release later Wednesday of minutes from the Federal Reserve’s latest policy meeting.
The Dow Jones industrial average was down 30 points, or 0.2 percent, at 14,976 after the first few minutes of trading. The Dow has fallen five days in a row, the longest losing streak this year.
The Standard & Poor’s 500 index was down three points, or 0.2 percent, at 1,649. The Nasdaq composite was down a fraction of a point at 3,613.
American Eagle Outfitters plunged 10 percent after the teen retailer said it expects a big drop in profit in the current quarter as it deals with tough competition.