5 things to know before the stock market opens Wednesday

5 things to know before the stock market opens Wednesday

1. Stocks look steady as Wall Street tries to restart rally were relatively flat Wednesday, one day after the logged another record high close while the broke a seven-session winning streak. The — which like the S&P 500, closed at a record Friday — started the holiday-shortened week by . Concern that the best of the economic recovery from the Covid pandemic could be in the rearview mirror hurt sentiment. Wednesday after Tuesday's surge to six-year highs turned into the worst session since May. OPEC and its oil-producing allies threw uncertainty into the market when they indefinitely postponed talks on output policy. 2. Bond yields dip ahead of afternoon release of Fed minutes The fell early Wednesday, , ahead of the afternoon release of the minutes from the June meeting of the 's policymaking committee. Traders will be looking for more clues into why central bankers moved up their timetable on interest rate hikes, with most of the 18 members of the panel forecasting two in 2023. In fact, seven members see the Fed possibly increasing rates as early as next year. It's going to be a busy summer for Fed watchers. Chairman Jerome Powell is set to testify next