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Stock market news today: Investors await Fed meeting minutes

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US stocks slip as investors await Fed minutes and parse China growth data

US stocks were lower on Wednesday after the July 4 holiday break as markets awaited further indication of central bank policy from the Federal Reserve's meeting minutes, due out at 2 p.m.

Investors were also looking through economic data out of China that showed the services sector expanded less than expected in June. The reading was the weakest in five months, casting further doubt on the strength of the post-COVID recovery in the world's second-largest economy. The purchasing managers' index dropped to 53.9, the lowest since January when Beijing began lifting broad restrictions and lockdown measures meant to curb the spread of the virus.

 

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