Stocks fail to surge on positive existing-home sales report
All eyes turn to FOMC meeting minutes
The Federal Open Market Committee meeting minutes will be released later today. But for now, the stock market is underwhelming, despite existing homes sales posting their highest level in over three years. CNBC explains:
Michael Hewson, senior market analyst at CMC Markets, told CNBC the latest minutes had the potential to be a "big let-down".
"The only thing that might prompt some price movement is if policymakers deviate in any way from the previous minutes and give more clarity about the timing and constitution of a possible tapering program," he said.