World markets today: US stocks slip ahead of Nvidia earnings, Fed minutes

US equity indices  slipped on Wednesday ahead of chip maker Nvidia’s earnings report and minutes from the Federal Reserve’s latest policy meeting.

At 9:40 a.m. ET, the Dow Jones Industrial Average was down 104.68 points, or 0.27 per cent, at 38,459.12, the S&P 500 was down 10.96 points, or 0.22 per cent, at 4,964.55, and the Nasdaq Composite was down 69.03 points, or 0.44 per cent, at 15,561.76.

Shares of Nvidia fell 1.2 per cent ahead of its quarterly earnings, expected after markets close on Wednesday. Amazon.com rose 1.7 per cent, with the company set to join the Dow Jones Industrial Average next week.

Cybersecurity firm Palo Alto Networks slumped 25.4 per cent after it forecast third quarter billings below Wall Street estimates.

At the opening bell, the Dow Jones Industrial Average fell 80.14 points, or 0.21 per cent, at the open to 38,483.66. The S&P 500 opened lower by 12.48 points, or 0.25 per cent, at 4,963.03, while the Nasdaq Composite dropped 98.66 points, or 0.63 per cent, to 15,532.12. 

Exxon Mobil rose 1.3 per cent as natural gas prices jumped 11 per cent.

The yield on the 10-year Treasury fell to 4.27 per cent from 4.28 per cent late on Tuesday. 

In Europe, Britain’s FTSE 100 edged down 0.8 per cent at 7,657.25 points. France’s CAC 40 rose 0.2 per cent at 7,807.87. Germany’s DAX added 0.4 per cent at 17,137.98.

Euro Stoxx 50 rose 0.4 per cent at 4,777.59.

In Asian stock markets, Hong Kong’s Hang Seng Index gained 1.6 per cent at 16,503.10. China's Shanghai Composite added 1.0 per cent at 2,950.96.

Japan’s Nikkei 225 fell 0.3 per cent at 38,262.16. 

Oil prices extended losses on Wednesday. Brent crude futures fell by 41 cents, or 0.5 per cent, to $81.93 a barrel by 1223 GMT, while US West Texas Intermediate crude futures (WTI) were lower by 39 cents, or 0.51 per cent, at $76.65.

Gold prices rose on Wednesday as investors looked to the Fed minutes of latest policy meeting for cues on timing of interest rate cuts. US gold futures were steady at $2,040.00 per ounce.