What to watch today: Stocks look steady as Wall Street tries to restart rally

What to watch today: Stocks look steady as Wall Street tries to restart rally

BY THE NUMBERS 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 . (CNBC) 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. (CNBC) 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. (CNBC) * (CNBC) It's going to be a busy summer for Fed watchers. Chairman Jerome Powell is set to testify next week on Capitol Hill, about two weeks before . The , sponsored by the Kansas City Fed, is set for Aug. 26-28 in Wyoming. for the second straight week as low inventory and high home prices continued to weigh on the hot housing market. Mortgage applications decreased 1.8% last week, falling to the lowest level since the beginning of 2020, before the coronavirus