A.M. Update

And so the correction begins. S&P futures are down -0.9%. Futures for the major indices are down this morning ahead of the July 26-27 FOMC Minutes release at 2:00 p.m. ET today. Target’s (TGT) weaker-than-expected quarterly results are adding to the weakness in premarket action. Overseas, the UK’s CPI report was the highest reading in…