Wall Street dips on profit-taking


Investors are watching the Fed's 4am (AEST) release of minutes from its July policy meeting for clues on whether the central bank might accelerate its plan for raising benchmark interest rates.

Large US retailer Target fell 0. 7 per cent after the company again trimmed its 2014 profit forecast following a large customer data breach last winter.

US stocks have opened lower following mixed corporate earnings reports and ahead of the release of minutes from the latest US Federal Reserve monetary policy meeting.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Five minutes into trade on Wednesday, the Dow Jones Industrial Average dropped 14. 70 points, or 0. 09 per cent, to 16,904. 89.

But office-supply retailer Staples advanced 0. 2 per cent after adjusted earnings of US12c per share bested analyst expectations by a cent.

Read more here: Business Spectator


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