Major indices are moving marginally lower in today’s session, as investors await the FOMC minutes at 2 PM EST.

Four sectors are in the green, with Energy (XLE) leading the way, as oil and natural gas prices edge higher. Communication Services (XLC) is getting a boost from Meta Platforms (META), after the company announced it would acquire a Chinese AI startup, Manus, for approximately $2B. Materials (XLB) is also getting a boost from higher metal commodity prices. On the flip side, Financials (XLF) is the laggard, but down a marginal 0.24%, with banks and asset managers contributing to the decline.

In other news, Softbank has completed its $40B investment commitment to OpenAI.

Economic Data

Chicago PMI rose to 43.5 in December from 36.3 in October and above forecasts of 39.5. This marked the 25^th consecutive month below the neutral 50 level.

Single family home prices rose 0.4% M/M in October following a downwardly revised 0.1% decline in September and beating expectations of a 0.1% increase.

The Dallas Fed Services Activity Index fell to -3.3 in December from -2.3 in the prior month.

While employment metrics moved lower, there was a rise in capital expenditures and revenue. Additionally, input prices eased, while selling prices rose.