Wall Street Sits Tight Ahead of FOMC Minutes Release

TheStreet

Wall Street sits tight ahead of the release of the Federal Reserve minutes. After two days of gains, investors will look for clues from the minutes on how soon the central bank plans to raise interest rates. Target (TGT) cut its full-year guidance. The battered retailer reported earnings before the bell below estimates. Staples (SPLS) also reported earnings before the bell. The company was in-line with analyst expectations. The office supply retailer said it will shut nearly 140 stores this year. PetSmart (PETM) said it is exploring a possible sale of the company. The pet-products chain is currently facing pressure from big shareholders to do so. After the bell, we'll get quarterly earnings results from Hewlett-Packard (HPQ). Wall Street is expecting a small revenue decline from the tech giant.