Stocks Weaken On Defensive Positioning Before FOMC Minutes


Despite encouraging payroll data and yesterday's impressive gains, Wall Street is hesitant ahead of today's afternoon release of minutes from the last FOMC meeting as well as the December job report on Friday. The Dow Industrials Average opened just two points under Tuesday's close following a better-than-expected increase in the ADP private payrolls report but soon reversed course as investors positioned for the 2 p.m. release of details from the Fed's decision last month to begin scaling back its bond-buying stimulus program.

The tech-heavy Nasdaq Composite index is outperforming again today, clinging to positive levels thanks to gains for Apple ( AAPL ) and Micron Technology ( MU ) as well as another record high for Google ( GOOG ).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: AAPL , GOOG , MU

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