* Lowe's, Target fall in premarket after results, forecasts
* Hertz tumbles after withdrawing forecast
* Fed minutes due at 2:00 p.m. EDT (1800 GMT)
* Futures off: Dow off 21 pts, S&P 2.75 pts, Nasdaq 3 pts
(Adds Target results, updates prices)
By Chuck Mikolajczak
NEW YORK, Aug 20 U.S. stocks were set for a
slight dip at the open on Wednesday after weak earnings
forecasts from retailers Lowe's and Target, ahead of the release
of minutes from the most recent meeting of the Federal Reserve.
* Investors will peruse the Fed minutes, which will be
released at 2:00 p.m. (1800 GMT), for clues on how soon the
central bank plans to hike interest rates. At a two-day meeting
of the Federal Open Market Committee in July, the Fed had
trimmed its monthly bond-buying program by an additional $10
* An annual meeting of top central bankers in Jackson Hole,
Wyoming, from Thursday through Saturday will also be eyed for
possible insight into the path for U.S. monetary policy.
* The benchmark S&P 500 notched its second straight day of
gains on Tuesday and closed within 10 points of its all-time
intraday high of 1,991.39 reached on July 24, while the Nasdaq
Composite extended gains and ended the session at yet another
* Lowe's Companies lost 2.8 percent to $50.10 before
the opening bell after the world's No. 2 home improvement
products retailer cut its full-year sales forecast, though it
posted better-than-expected second quarter results.
* Fellow retailer Target Corp lost 1.4 percent to
$58.40 in premarket after the company's second-quarter earnings
fell shy of the Wall Street estimate and the company cut its
* S&P 500 e-mini futures were down 2.75 points and
fair value - a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract - indicated a slightly lower open. Dow Jones industrial
average e-mini futures lost 21 points and Nasdaq 100
e-mini futures shed 3 points.
* But American Eagle Outfitters was a bright spot in
the retail sector after second-quarter results beat expectations
and it forecast third-quarter earnings that were in line with
the current estimate.
* Hertz Global Holdings tumbled 12.5 percent to
$27.63 in premarket trading after the rental car company
withdrew its full-year financial forecast and said it expects
2014 results to be "well below" its previous guidance due to
business challenges and costs.
* Amicus Therapeutics shares surged 16.6 percent to
$5.33 in premarket trading after the company said its
experimental drug was as effective as enzyme replacement
therapies for patients with Fabry disease, a disorder that leads
to the abnormal build-up of fat.
(Editing by Bernadette Baum)