US stocks were mixed in early trading on Wednesday as traders waited for minutes of the latest Federal Reserve meeting, which could signal the possibility of a hike in central bank interest rates.
Before the market opened, payroll services firm ADP reported a surge in private-sector recruitment with 807,000 jobs in December, which could indicate strong hiring, the Labor Department’s official employment report said Friday.
However, traders have been wary of the Fed, which has indicated it may raise rates repeatedly next year to curb inflation, potentially leading to the US stock rally enjoyed during the COVID-19 pandemic. , even the development of the Omicron version is threatened.
The Fed will release the minutes of last month’s policy meeting on Wednesday, which may shed light on the thinking of central bankers.
“I think waiting for the Fed minutes, the market is going to play it cautiously for most of the session,” said Peter Cardillo of Spartan Capital Securities.
“Investors are no longer worrying on Omicron (stress) but are basically looking at the Fed’s move and a stronger economy with higher inflation.”
About 25 minutes into trading, the benchmark Dow Jones Industrial Average was on the positive side of the flat at 36,810.42, a few points higher than Tuesday’s record close.
The tech-rich Nasdaq Composite Index was down 0.4 percent at 15,563.36, while the broad-based S&P 500 fell 0.1 percent to 4,789.20.
Low-cost airline Allegiant Air announced it would buy 50 of its 737 MAX jets and options for another 50, after which Boeing gained two percent.
This story has been published without modification in text from a wire agency feed.
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