* Fed to release minutes at 2:00 p.m. ET
* Dow hits all-time high for 8th time in 9 sessions
* Garmin top pct gainer on S&P after results
* Dow up 0.1 pct, S&P down 0.11 pct, Nasdaq down 0.1 pct
(Updates to early afternoon)
By Yashaswini Swamynathan
Feb 22 The S&P 500 and the Nasdaq slipped on
Wednesday as investors awaited the Federal Reserve's minutes
from its most recent meeting for clues on the timing of the next
interest rate hike.
However, the Dow Jones Industrial Average hit a record
intraday high for the eighth time in nine sessions, powered by a
4 percent gain in DuPont shares.
The company is set to win antitrust approval from European
Union regulators for its $130 billion merger with Dow Chemical
, sources told Reuters. Dow Chemical's shares rose nearly
Policymakers, including Fed Chair Janet Yellen, have been
hinting at the possibility of a rate hike at an upcoming
meeting. But traders have priced in slim chances of a move until
June despite a string of strong economic data in recent months.
"It is no more a question of whether they will raise rates,
but when they are going to do it," said Jim Davis, regional
investment manager at U.S. Bank Private Client Group in
At 12:32 p.m. ET (1732 GMT) the Dow Jones was up
21.12 points, or 0.1 percent, at 20,764.12, after hitting an
all-time high of 20,766.94.
The S&P 500 was down 2.75 points, or 0.11 percent, at
2,362.63 and the Nasdaq Composite was down 6.12 points,
or 0.1 percent, at 5,859.83.
Six of the 11 major S&P sectors were lower, with energy
falling the most. Three sectors were little changed,
while materials and health gained.
Garmin shares were the top percentage gainers on
the S&P, rising 8.7 percent after the GPS-devices maker posted
its fifth-straight quarterly profit and sales beat.
Bristol-Myers gained 2.1 percent after billionaire
investor Carl Icahn took a stake in the company.
Declining issues outnumbered advancers on the NYSE by 1,814
to 998. On the Nasdaq, 1,759 issues fell and 1,003 advanced.
The S&P 500 index showed 39 new 52-week highs and one new
low, while the Nasdaq recorded 108 new highs and 25 new lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Savio D'Souza, Saumyadeb Chakrabarty and Anil D'Silva)