Brands took a breather on Tuesday. Cisco, JPMorgan Chase, Exxon Mobil and Bank of America led decliners on the Dow. Stocks traded lower on comments from the Federal Reserve. Minutes from the most recent Federal Open Market Committee meeting, released today, revealed a wait-and-see approach. A few members indicated that, “the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate consistent rate of two percent over the medium run.” Elsewhere, a number of car companies, namely Ford, Chrysler, and General Motors, reported respectable sales upswings in March. On the horizon, the Institute for Supply Management will issue its monthly services index on Wednesday.
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