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Market Snapshot: Stocks little changed after Fed minutes, Nasdaq higher as tech stocks rally

U.S. stocks largely brushed off Federal Reserve policy meeting minutes Wednesday that indicated a reduction in the central bank’s economy-boosting balance sheet could begin soon. Instead, technology stocks held their gains, while a disappointing manufacturing report and a sudden tumble in crude futures capped advances in the broader market.

In minutes released from the Fed’s June meeting, several members showed they’re in favor of starting a reduction of the central bank’s $4.5 trillion balance sheet. Holding those assets were part of the policy portfolio that the central bank had taken on while holding interest rates at historic lows. The minutes also showed that officials are divided on unemployment figures.

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