US open: Oil futures succumb to profit-taking ahead of FOMC minutes

Wall Street's main indices were trading on a mixed note amid profit-taking in oil and as investors looked to the release of the latest Federal Reserve minutes later in the day.

At 1618 BST, the Dow Jones Industrial Average was drifting lower by 0.09% or 19.24 points to 2,463.88, alongside a rise of 0.09% or 2.27 points in the S&P 500 to 2,431.10 and gains of 0.44% or 26.76 points for the Nasdaq Composite to 6,137.04.

Weaker oil prices were also weighing sentiment.

Russia ruled out any proposals to deepen OPEC-led production cuts, according to a Bloomberg report. Moscow wants to continue with the current deal and said any further supply cuts would send the wrong message to the market.

West Texas Intermediate was down 3.53% to $45.41 a barrel.

From a sector standpoint, the worst performance was being seen in the following industrial groups: Specialty retailers (-3.31%), Oil equipment & Services (-2.48%) and Exploration and Production (-2.18%).

Geopolitical tensions were also at play after North Korea launched its first ballistic missile on Tuesday, capable of reaching the US.

On the data front, the Commerce Department reported a 0.8% month-on-month drop in US factory orders (consensus: -0.4%).

The minutes of the FOMC's 14 June policy decision were due at 1900 BST.

Meanwhile, the release of the ADP employment report, widely seen as a pre-cursor to the all-important non-farm payrolls and which would normally be released on Wednesday, has been pushed back to Thursday.

Shares in credit card-processor Vantiv were lower after announcing a $10bn bid for UK rival Worldpay.

Tesla was also unwanted after the company reported that its deliveries ran at the lower end of its forecast range of between 47,000 to 50,000 vehicles over the first six months of the year.

Dow Jones - Risers

Boeing Co. (BA) $199.95 0.68%
Wal-Mart Stores Inc. (WMT) $75.76 0.53%
Microsoft Corp. (MSFT) $68.48 0.45%
Visa Inc. (V) $93.75 0.42%
Coca-Cola Co. (KO) $44.88 0.28%
Procter & Gamble Co. (PG) $87.94 0.23%
Intel Corp. (INTC) $33.52 0.18%
Caterpillar Inc. (CAT) $107.16 0.18%
JP Morgan Chase & Co. (JPM) $92.89 0.15%
United Technologies Corp. (UTX) $122.26 0.15%

Dow Jones - Fallers

Cisco Systems Inc. (CSCO) $30.84 -1.55%
Walt Disney Co. (DIS) $105.86 -1.49%
Exxon Mobil Corp. (XOM) $80.90 -1.46%
Nike Inc. (NKE) $57.91 -1.26%
Chevron Corp. (CVX) $104.97 -1.25%
E.I. du Pont de Nemours and Co. (DD) $81.21 -1.12%
Verizon Communications Inc. (VZ) $44.50 -1.11%
Home Depot Inc. (HD) $152.67 -0.87%
Pfizer Inc. (PFE) $33.58 -0.72%
General Electric Co. (GE) $27.26 -0.67%

S&P 500 - Risers

Micron Technology Inc. (MU) $30.17 3.55%
Nvidia Corp. (NVDA) $143.21 2.78%
Alexion Pharmaceuticals Inc. (ALXN) $124.24 2.61%
Paypal Holdings Inc (PYPL) $54.15 2.42%
Applied Materials Inc. (AMAT) $41.91 2.19%
Newmont Mining Corp. (NEM) $32.53 1.99%
Celgene Corp. (CELG) $132.60 1.86%
Adobe Systems Inc. (ADBE) $140.96 1.84%
Microchip Technology Inc. (MCHP) $77.20 1.83%
Skyworks Solutions Inc. (SWKS) $97.04 1.78%

S&P 500 - Fallers

O'Reilly Automotive Inc. (ORLY) $177.23 -19.59%
Advance Auto Parts (AAP) $102.70 -13.27%
AutoZone Inc. (AZO) $518.43 -9.32%
Southwestern Energy Co. (SWN) $5.89 -6.43%
Chesapeake Energy Corp. (CHK) $4.82 -5.96%
Diamond Offshore Drilling Inc. (DO) $10.84 -5.49%
Newfield Exploration Co (NFX) $27.83 -5.31%
Range Resources Corp. (RRC) $22.33 -4.94%
Murphy Oil Corp. (MUR) $24.99 -4.80%
Hess Corp. (HES) $43.35 -4.56%

Nasdaq 100 - Risers

Micron Technology Inc. (MU) $30.17 3.55%
Nvidia Corp. (NVDA) $143.21 2.78%
Alexion Pharmaceuticals Inc. (ALXN) $124.24 2.61%
Baidu Inc. (BIDU) $184.64 2.59%
Paypal Holdings Inc (PYPL) $54.15 2.42%
Applied Materials Inc. (AMAT) $41.91 2.19%
Shire Plc Ads (SHPG) $167.29 1.99%
Celgene Corp. (CELG) $132.60 1.86%
Adobe Systems Inc. (ADBE) $140.96 1.84%
Microchip Technology Inc. (MCHP) $77.20 1.83%

Nasdaq 100 - Fallers

O'Reilly Automotive Inc. (ORLY) $177.23 -19.59%
Tesla Inc (TSLA) $338.00 -4.15%
Tractor Supply Company (TSCO) $53.59 -2.50%
Viacom Inc. Class B (VIAB) $33.51 -1.79%
Dollar Tree Inc (DLTR) $68.84 -1.50%
Mylan Inc. (MYL) $38.27 -1.39%
Ross Stores Inc. (ROST) $57.49 -1.27%
NetEase Inc. Ads (NTES) $294.00 -0.95%
Mercadolibre Inc. (MELI) $248.45 -0.89%
Cisco Systems Inc. (CSCO) $31.06 -0.88%