Stocks closed down 1 percent after the minutes from the last Fed policy setting meeting suggested the central bank could begin tapering bond purchases sooner than the market expects.
While 94 percent of the companies in the Standard & Poor's 500 Index have already reported quarterly earnings, this week remains a key week for the retail industry with 24 retailers reporting earnings—12 of which are S&P 500 components.
Stocks ended higher Wednesday, with the Dow extending its gains to post a record high for the second-straight day, amid signs of improvement in the labor market.
As the courtroom battle between department stores Macy's and J.C. Penney continues, Martha Stewart will win no matter what, said the former chairman of Martha Stewart Living Omnimedia.
U.S. stock index futures were higher Wednesday, with the Dow poised to extend its gains a day after hitting an all-time high, following a better-than-expected private sector employment report.
Wall Street closed mixed on Monday, as stocks struggled to extend the January rally for another session. Apple led tech stocks higher with a 2 percent rebound while Caterpillar gave support to blue chips following its earnings report.