7/5/2023, 3:30 PM (Source: TeleTrader)
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US lower at open with FOMC minutes in focus

New York stock exchanges opened with losses on Wednesday as investors awaited the release of Federal Reserve's June meeting minutes that could likely provide more insight into the direction of the monetary policy after the officials decided to leave the federal funds rate unchanged.

The negative trajectory was seemingly fueled up by Beijing's decision to curb the export of materials crucial for the semiconductor-making process.

The Dow Jones Industrial Average tumbled by 165 points or 0.47% as Intel Corporation lost 1.73%. The S&P 500 fell 0.38% with BorgWarner Inc. sinking 11.53%. The Nasdaq 100 slid 0.26% at the opening bell, but turned to gains minutes later pulled up by Moderna Inc.'s jump of 4.48%.

The euro added 0.16% versus the dollar, to sell at $1.08973 at 9:26 am ET.

Baha Breaking News (BBN) / AB