Stocks give up some gains in afternoon action

In similar fashion to yesterday, stocks are giving back the day’s gains late in the session. All three averages were higher by 1% or more at noon, but the S&P 500 is up just 0.15% and the Nasdaq has turned modestly negative 30 minutes before the bell.

Futures edge higher ahead of the open

U.S. stock index futures are looking at a positive open after a late drop in U.S. equities a day earlier, stoked by the minutes of the Fed’s last policy meeting and fresh concerns about higher interest rates. Dow +0.1%; S&P 500 +0.3%; Nasdaq +0.2%.

Stocks sink after Fed minutes send 10-year yield closer to 3%

Stocks sold off into the close after being higher for most of the day, with the Dow Jones average closing 167 points lower after rising as much as 300 points, as the release of the minutes from the January FOMC meeting did little to ease worries that the Fed could move to raise rates more than three times previously expected for 2018.

FOMC minutes: Gradual hike policy still in place

While some participants noted reports of wage pressures from their business contacts, the general agreement is that there are few signs in the data of a broad-based pickup. Still, a number believe that continued tightening in labor markets must surely translate into perkier wage increases at some point.