* Fed minutes to be released at 2:00 p.m. ET
* Oil prices fall over 1.3 pct
* Cybersecurity stocks fall after Fortinet cuts forecast
* Indexes down: Dow 0.22 pct, S&P 0.15 pct, Nasdaq 0.28 pct
(Updates to open)
By Yashaswini Swamynathan
Oct 12 U.S. stocks edged lower on Wednesday due
to losses in energy and technology shares.
Oil prices fell more than 1.3 percent and dragged down the
S&P 500 energy index by 0.8 percent. Dow components
Exxon Mobil and Chevron fell 0.9 percent.
Microsoft fell 1.3 percent and Cisco 2.5
percent, pulling down the technology index.
Five of the 11 major S&P indexes were lower.
Investors are focusing on the release of the minutes from
the Federal Reserve's September policy meeting that will reveal
policymakers' views on the progress of the U.S. economy and its
ability to absorb an interest rate hike this year.
The markets are likely to be more volatile as the
third-quarter earnings season will test relatively high
valuations of stocks.
Overall S&P 500 earnings are currently expected to fall 0.7
percent in the third quarter, marking the fifth quarter of
negative earnings in a row, according to Thomson Reuters data.
At 9:44 a.m. ET the Dow Jones industrial average was
down 40.68 points, or 0.22 percent, at 18,087.98, the S&P 500
was down 3.22 points, or 0.15 percent, at 2,133.51 and
the Nasdaq Composite was down 14.51 points, or 0.28
percent, at 5,232.28.
Fortinet shares plunged 12.2 percent after the
cybersecurity company cut third-quarter revenue and profit
forecast. Shares of rivals Palo Alto and Fireeye
Barracuda Networks soared 13 percent after the
computer security and storage firm's quarterly revenue beat
Declining issues outnumbered advancing ones on the NYSE by
1,568 to 1,064. On the Nasdaq, 1,373 issues fell and 861
The S&P 500 index showed no new 52-week highs and one new
lows, while the Nasdaq recorded 12 new highs and 20 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by