Stocks Opened Lower ahead of Fed Minutes

U.S. stocks opened lower on Wednesday as investors brace for minutes from the Federal Reserve’s most recent policy gathering and as the market with the latest on American trade relations. The Dow Jones Industrial Average lately fell 86.04 points, or 0.33%, to 25,791.29. The S&P 500 retreated 9.53 points, or 0.33%, to 2,854.83. The Nasdaq Composite slipped 21.87 points, or 0.28%, to 7,763.86.

Oil prices fell Wednesday after data from the American Petroleum Institute showed a surprise jump in inventory, ahead of supply numbers from the Energy Information Administration (EIA) due later. West Texas Intermediate crude for July delivery fell 57 cents, or 0.9%, to $62.56 a barrel. July Brent slipped 45 cents, or 0.6%, to $71.73 a barrel.

Minutes for the rate-setting Federal Open Market Committee’s April 30- May 1 will be released at 2 p.m. Eastern Time, which could offer clues on the outlook for rate increases — a potential catalyst for Wall Street investors.

The U.S. is contemplating banning up to five Chinese tech firms from doing business with American companies Bloomberg News reported Tuesday.