Wall Street opens lower, weighed down by industrials, Fed's direction

US stock indices opened the fourth session of the week lower after the Federal Reserve's September meeting minutes showed a firm path for policy tightening and rate hikes as the economy strengthens. 

Additionally, a spate of earnings results weighed on Wall Street today, especially on the industrial sector, in turn dragging indices down. 

Earlier US data showed the Philly Manufacturing Index down to 22.2 from 22.9, while unemployment claims fell 5 thousand in the week ending October 13 to 210 thousand, edging estimates of 211 thousand. 

Continuing claims fell 13 thousand to 1.640 million in the week ending October 6, as analysts expected 1.663 million. 

Otherwise, Federal Reserve Governor Randal Quarles is due to speak about the economic outlook at the Economic Club of New York luncheon later today.

The Federal Open Market Committee voted last month to increase borrowing rates for the third time this year by 25 basis points to below 2.25% as expected by analysts back then. 

US President Donald Trump accused the Federal Reserve of causing a sharp correction in markets with its interest rate policy, considering it too strict and a "mistake". 

Stock Performance 

As of 02:17 GMT, Standard and Poor's 500 shed 0.48%, or 13.53 points to 2,795.68, while Dow Jones slid 0.58%, or 148.69 points to 25,557.99. 

Tech-heavy NASDAQ tumbled 0.73%, or 55.45 points to 7,587.25.