Wall Street indexes stay close to unchanged
Main U.S. indexes little changed
Apr existing home sales 4.14M vs 4.21M estimate
Euro STOXX 600 index off ~0.3%
Dollar edges up; bitcoin slips; gold, crude both down >1%
U.S. 10-Year Treasury yield edges up to ~4.43%
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WALL STREET INDEXES STAY CLOSE TO UNCHANGED
Wall Street's major indexes are making little progress in either direction on Wednesday after a mixed bag of retail earnings, and while investors waited for minutes of the Federal Reserve's last meeting and results from AI-beneficiary Nvidia NVDA.O.
On the sector side, however, there is a bigger divergence with tech .SPLRCT up 0.3% and leading gains among the S&P 500's 11 major sectors, while the biggest decliner is energy .SPNY, down 2%.
On the earnings front, Target TGT.N shares are down close to 8% after it forecast current-quarter comparable sales and profit largely below Wall Street expectations saying it continues to expect consumer caution after weak discretionary spending dented first-quarter results.
But on the other hand, off-price retailer TJ Maxx's parent TJX Cos TJX.N posted better-than-expected first-quarter results and raised its annual profit forecast betting on easing costs and strong demand for its affordable products. Its shares are rising more than 6%.
Shares of home products retailer Williams-Sonoma WSM.N are up more than 4% after it lifted its annual operating margin forecast on better merchandise margins, lower supply chain costs and robust demand for its home furnishing and decor brands.
While the Fed minutes being released at 2PM are from a meeting that was held several weeks ago on May 1, investors will still pour over the release for further clues on policy makers' thinking on interest rates.
This comes before the hotly anticipated report from Nvidia after the market closes.
Here is your morning snapshot from 10:08 a.m. ET/ 1408 GMT
(Sinéad Carew)
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FOR WEDNESDAY'S EARLIER LIVE MARKER POSTS:
BENCHMARK TREASURY YIELD PUSHES HIGHER AHEAD OF FED MINUTES - CLICK HERE
SERVICES TO BLAME AS UK INFLATION STAYS HOT - CLICK HERE
UTILITIES: WHAT A DIFFERENCE A MONTH MAKES! - CLICK HERE
BANKS: WHEN RATE CUTS COME, SO WILL PROFIT-TAKING - CLICK HERE
WHY US YIELDS CAN GO BACK TO RECENT HIGHS... OR BEYOND - CLICK HERE
STOXX STUMBLES AS AUTOS DRAG - CLICK HERE
STOXX FUTURES FLAT AS FTSE LAGS POST-CPI - CLICK HERE
NVIDIA VIGIL ALMOST OVER - CLICK HERE
Wall Street indexes hover close to unchanged https://tmsnrt.rs/4bFVzTu
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