Stock Market Today: Main indexes on track to open in red ahead of Fed minutes

• Wall Street's main indexes are set to open lower on Wednesday.
• Investors await Federal Reserve's January policy meeting minutes.
• Nasdaq futures are down more than 0.5% ahead of the opening bell.

S&P 500 futures fall 0.35%, Dow Jones futures drop 0.24%, and Nasdaq futures lose 0.64% ahead of the opening bell on Wednesday. 

S&P 500 (SPX) fell 0.6% on Tuesday, Dow Jones (DJIA) lost 0.17% and Nasdaq (IXIC) declined 0.92%.

What to know before stock markets open

• The Consumer Staples Sector rose 1.13% as the best-performing major S&P sector on Tuesday. The Technology Sector plunged 1.7% before hitting the Tuesday close in the red 1.27% as the weakest major sector.
• Discover Financial Services (DFS) was the biggest gainer on the day, rising 12.6% to close at $124.42 on Tuesday. On the other hand, Expeditors International of Washington Inc. (EXPD) fell 6.9% to end at $115.57 as one of the biggest decliners, just beat out by Trade Desk Inc. (TTD), which fell 7.163% to hit closing bell at $82.56.
• Retailer giant Walmart Inc. (WMT) reported an adjusted earning per share of $1.8 ahead of the opening bell on Tuesday. The company said that it expects consolidated net sales to rise in the range of 3%-4% and announced that it will buy smart-TV producer Vizio (VZIO) for about $2.3 billion.
• Home Depot Inc. (HD) said net income in Q4 was $2.8 billion and the adjusted earnings per share was $2.82. The company, however, said that if projects sales for the fiscal year 2024 to be below estimates, citing slowing demand for discretionary items such as flooring, furniture and kitchen, per Reuters.
• The Federal Reserve will release the minutes of the January policy meeting on Wednesday. On Thursday, preliminary February Manufacturing and Services PMI reports for Germany, the Euro area, the UK and the US will be scrutinized by market participants. 
• NVIDIA Corp. (NVDA) and Synopsys Inc. (SNPS) will release quarterly earnings after the closing bell on Wednesday. 
• The Bureau of Labor Statistics reported on Friday that the Producer Price Index (PPI) for final demand in the US rose 0.9% on a yearly basis in January. This reading followed the 1% increase recorded in December but came in above the market expectation of 0.6%. The annual Core PPI rose 2% in the same period, compared to December's increase of 1.8%. On a monthly basis, the Core PPI was up 0.5% following the 0.1% decline recorded in the previous month.
• Inflation in the US, as measured by the change in the Consumer Price Index (CPI), softened to 3.1% on a yearly basis in January from 3.4% in December, the BLS reported on Tuesday. This reading came in above the market expectation of 2.9%. The Core CPI, which excludes volatile food and energy prices, rose 3.9% in the same period and matched December's increase, surpassing analysts' estimate of 3.7%.