Stocks Opened Slightly Lower ahead of FOMC Minutes

U.S. stocks opened slightly lower on Wednesday, as investors prepared themselves for the release of Federal Open Market Committee’s (FOMC) latest set of minutes, while watching the oil price moves. The Dow Jones Industrial Average lately fell 33.66 points, or 0.19%, to 18,095.00. The S&P 500 was down 1.91 points, or 0.09%, to 2,134.82. The Nasdaq Composite lost 7.56 points, or 0.14%, to 5,239.23.

Minutes of the Federal Reserve’s September policy meeting could illuminate the degree of pressure Chair Janet Yellen faced from officials eager to raise interest rates, insights that could help guide expectations on the likelihood of a hike by year end.

Oil prices edged up on Wednesday, supported by record Indian crude imports and talks between OPEC producers and other oil exporters on curbing output to end a glut in the global market. Brent crude futures were up 26 cents at $52.67 a barrel by 1115 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 23 cents to $51.02 a barrel.

Stanley Black & Decker SWK, +1.73% announced Wednesday a deal to buy Newell Brands Inc.’s NWL, +1.79% tools business for $1.95 billion in cash.

General Motors Co. has invested in Chinese car-sharing company Yi Wei Xing (Beijing) Technology Co., the latest foray by the U.S. auto giant into alternative transportation services.