NEW YORK — US stocks are little changed in early morning trading Wednesday as investors weigh several earnings reports and await the release of minutes from the Federal Reserve's last policymaking meeting.
KEEPING SCORE: The Dow Jones industrial average inched up two points to 18,315 as of 10:22 a.m. Eastern time. The Standard & Poor's 500 index slipped up a point to 2,127. The Nasdaq composite declined five points, or 0.1 percent, to 5,064.
CRAFT CRASH: Etsy plunged 20 percent after its first earnings report as a publicly traded company showed a hefty quarterly loss. Stock in the e-commerce retailer of crafts plunged $4.55 to $16.45.
SUPPLY SLIP: Staples fell $39 cents, or 3 percent, to $16.02 after reporting a sharp drop in first-quarter earnings
LOWER LOWE'S: The home-improvement retailer Lowe's sank 5 percent on earnings and revenue that fell short of what analysts were looking for. The stock fell $2.94 to $68.89.
FED MINUTES: The U.S. Federal Reserve is set to release minutes from its April 28-29 meeting, when it downgraded its view of the U.S. economy and offered no sign that a rate increase might be coming soon. Investors will study the minutes to try to divine the timing of the first rate increase since the global financial crisis.
EUROPE DOWN: Germany's DAX edged down 0.1 percent. France's CAC 40 and Britain's FTSE 100 were flat.
ASIA UP: Japan's Nikkei 225 rose 0.9 percent and South Korea's Kospi gained 0.9 percent after robust U.S. housing data boosted the dollar and gave a lift to exporter stocks. China's Shanghai Composite Index advanced 0.7 percent. Hong Kong's Hang Seng closed 0.4 percent lower.
ENERGY: Benchmark U.S. crude gained 79 cents to $58.78 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $2.25 on Tuesday to close at $57.99.
CURRENCIES: The dollar strengthened to 121.11 yen from 120.67 yen. The euro declined to $1.1102 from $1.1147.
BONDS: The price of U.S. government bonds rose. The yield on the 10-year Treasury note fell to 2.28 percent from 2.30 percent late Tuesday.
Lee reported from Seoul, South Korea.