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NEW YORK (CNNMoney)
U.S. stocks were little changed Wednesday, following four days of gains, as investors waited to hear more about the Fed's bond-buying program.
The Dow Jones industrial average and S&P 500 edged slightly lower while the Nasdaq managed to post slim gains.
The U.S. central bank is slated to release the minutes of its most recent policy meeting in the afternoon. At the conclusion of its June meeting, the Fed announced that it could begin pulling back on its $85 billion in monthly bond purchases later this year, and wind down the program entirely by mid-2014, as long as the economy improves in line with its expectations.
Investors will also be looking for more clarity from Fed chairman Ben Bernanke, who is on tap to speak before the National Bureau of Economic Research in Cambridge, Mass., after the markets close.
Related: Stock market outlook: The bull looks tired
What's moving: Corporate earnings, which started coming in this week, are also in focus. U.S. stocks have been moving higher over the past few trading sessions due to underlying optimism about earnings results from companies for the three months that ended in June. The major stock indexes are in sight of all-time highs set in late May.
Family Dollar (FDO, Fortune 500) shares climbed sharply Wednesday after reporting a better-than-expected profit and a 10% jump in sales. More company results are due Wednesday, with restaurant operator Yum! Brand (YUM, Fortune 500) set to report after the close.
Overall, quarterly earnings for companies in the S&P 500 are expected to grow 0.8% versus last year, according to FactSet.
Related: Fear & Greed Index idling in neutral
Meanwhile, shares of Cliffs Natural Resource (CLF, Fortune 500)were higher after the mining company announced that Joseph Carrabba is stepping down as chairman and will retire from his CEO post at the end of the year.
Hewlett Packard (HPQ, Fortune 500) stock jumped following an upgrade from Citigroup.
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In world markets, trading in Europe was subdued Wednesday afternoon. But shares in the U.K.-based high end fashion retailer Burberry (BBRYF) bucked the trend, rising by 5% after its quarterly results that beat expectations.
Asian markets ended mixed. Markets in China rallied after weaker-than-expected trade data fueled hopes that Beijing might relax monetary policy to support the economy. The Shanghai Composite index surged by 2.2%. The Hang Seng index gained 1.1%. Japan's benchmark Nikkei index moved 0.4% lower.
First Published: July 10, 2013: 9:48 AM ET
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