Wall Street set to open lower ahead of Fed minutes

From ReutersWall Street looked set to open lower on Wednesday as investors eyed the finer details of the Federal Reserve’s September policy meeting. While the Fed stood pat on interest rates during the meeting, three members voted for a hike. The minutes will reveal policymakers’ views on the progress of the U.S. economy and its ability to absorb an increase this year.

Traders have currently set a 70 percent chance of a rate hike in December, the CME Group’s FedWatch tool showed. “We are going to have to wait till 2 p.m. today to see what kind of discussion the FOMC had on rates,” said Kim Forrest, senior equity research analyst, Fort Pitt Capital Group in Pittsburgh.

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