Wall Street opens flat, eyeing 5th straight rise

NEW YORK: Wall Street stocks opened just barely into positive territory Wednesday, following a four-day winning streak, while investors awaited the minutes from the US central bank's last meeting.

The Federal Reserve later Wednesday is due to publish minutes from of its policy discussion earlier this month, possibly offering clues about futher interest rate increases this year, and how it will sell off its securities holdings.

About 10 minutes into the day's trading, the blue-chip Dow Jones Industrial Average and broader S&P 500 were each up less than a tenth of a percentage point at 20,942.33 and 2,399.85, respectively.

The tech-rich Nasdaq was up 0.1 percent at 6,144.67.

The major indices have regained the territory lost on May 17 in the wake of fresh revelations in President Donald Trump's FBI-Russia controversy.

Investors may be cautious after ratings agency Moody's downgraded China's sovereign debt rating for the first time in nearly 30 years.

And Patrick O'Hare of Briefing.com said stocks likely will be subdued while traders waited to see which sectors move the market.

But investors hoping to read the Fed's tea leaves were likely in for "an exercise in analytical frustration" given the minutes frequently speak in only general terms.

"We'd be surprised if the minutes today contained any real policy shock value, but because it's the Fed -- the world's most influential central bank -- it is incumbent to give the minutes a full read," O'Hare wrote.

On the Dow, major gainers included Coca Cola, up 0.7 percent, General Electric, which rose 0.4 percent, and aircraft giant Boeing, which gained 0.3 percent.

Luxury jewelry retailer Tiffany & Co was down 7.6 percent after the company reported an unexpected drop in same-store sales.

Home improvement and hardware megastore chain Lowe's Companies gave up four percent following news the company posted disappointing quarterly sales and earnings.