US STOCKS-Wall Street lower ahead of Fed minutes
* Fed to release July meeting minutes at 2:00 p.m. ET
* Target drops on profit forecast cut
* Cisco among top drags on all three indexes
* Indexes down: Dow 0.14 pct, S&P 0.11 pct, Nasdaq 0.12 pct (Updates to open)
By Yashaswini Swamynathan
Aug 17 (Reuters) - Wall Street was lower on Wednesday as investors awaited the release of the minutes of the Federal Reserve's July policy meeting.
The Fed left interest rates unchanged at its meeting last month but said near-term risks to the economy had diminished, leaving the door open for a possible rate hike this year.
Investors will parse the minutes, due at 2:00 p.m. ET (1800 GMT), for hints on when the Fed would next raise rates, in light of New York Fed President William Dudley's hawkish comments on Tuesday.
Dudley, a permanent voting member and a close ally of Fed Chair Janet Yellen, said a rate hike as soon as September was possible given evidence of wage gains and a tighter labor market. Continuación...