Major U.S. stock indexes slipped for a second day  as investors digested the latest Federal Reserve meeting minutes for insights into tapering plans.

The S&P 500 dipped nearly 1.1% to 4,400.27. 

The Fed published its meeting minutes from its July gathering, revealing discussions about possibly dialing back its monthly bond-buying program this year.

The minutes noted the economy had reached its goal on inflation and was “close to being satisfied” with the progress of job growth.

To be sure, the minutes also reflected some division within the Fed with some members preferring to wait until early 2022 to start tapering bond purchases.

Investors also waded through more earnings reports from major retailers Wednesday.

Stock futures were lower in early morning trading on Thursday after Wall Street suffered a sell-off as meeting minutes showed the Federal Reserve started eyeing tapering before the year-end.

The central bankers at their July meeting made plans to pull back the pace of their monthly bond purchases likely before the end of 2021, the minutes showed.

However, committee members broadly agreed that employment has not met the “substantial further progress” benchmark the Fed has set before it would consider raising rates.

Investors will monitor new jobless claims data due Thursday morning. Economists polled by Dow Jones expect a total of 365,000 in the week ended Aug. 14, slightly below the total of 375,000 in the prior week.

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Plan A : Remain sell as long as oil price stays below 66.3. Targets are 64.3 and 63.8.

Plan B : Consider buy only if oil price able to support above 63.8 and rebounds. Targets are 64.5 and 66.3.