US stocks choppy ahead of Fed report
- S&P 500 was down less than 0.1 percent at 4,518.03 while Nasdaq Composite Index shed 0.3 percent to 15,323.04
NEW YORK: Wall Street stocks were mixed early Wednesday, extending a choppy stretch as investors weigh the latest Covid-19 trends and concerns about shifting monetary policy.
Stocks have been under pressure since last Friday when a weak US jobs report exacerbated fears that the Delta variant of Covid-19 could slow or derail the recovery.
September is also traditionally a weak month for US stocks.
Investors are "continuing to grapple with what the Fall and Q4 could bring as the Delta variant continues to foster uncertainty, supply-chain issues fester, and Fed tapering timing remains in question," said a note from Charles Schwab analysts.
About 35 minutes into trading, the Dow Jones Industrial Average was up a hair at 35,114.27.
The broad-based S&P 500 was down less than 0.1 percent at 4,518.03 while the tech-rich Nasdaq Composite Index shed 0.3 percent to 15,323.04.
Investors are looking ahead to a report later Wednesday from the Federal Reserve updating economic conditions around the country that could shed light on the US central bank's timetable for scaling back stimulus, which is expected to start by year end.
Also ahead: Thursday's meeting of the European Central Bank and an update on monetary policy.
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