Futures fall ahead of release of Fed minutes

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Associated Press

Posted on August 21, 2013 at 6:01 AM

Updated Wednesday, Aug 21 at 6:33 AM

NEW YORK (AP) — U.S. stock futures are falling ahead of the release of the latest minutes from the Federal Reserve.

There is also more bad news from retailers Wednesday and shares are heading down in premarket trading.

Dow Jones industrial futures are down 24 points to 14,961. S&P futures have lost 2.9 points to 1,647.70. Nasdaq futures are down 5.25 points to 3,075.75.

Markets have been pressured by the anticipation that the Fed will begin winding down its bond-buying program, $85 billion a month, which has kept rates low.

Shares of American Eagle Outfitters are plunging after it reported quarterly results that showed the specialty retailer has had to slash prices because shoppers are so reluctant to spend.

Target is issuing a meager profit forecast and a 13 percent drop in quarterly profit.

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