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 Here is what you need to know. Most Fed officials support a move toward unwinding the Fed's balance sheet. Wednesday's release of the minutes from the July Federal Open Market Committee meeting showed most Federal Reserve officials supporting a move toward unwinding the Fed's $4.5 trillion balance sheet at "an upcoming meeting." Trump's 2 business councils disintegrate. President Donald Trump tweeted he was disbanding the Strategic and Policy Forum and a separate manufacturing council; a mass exodus of executives had made their end seem imminent. Euro-area inflation holds. Inflation in the euro area held at 1.3% year-over-year in July, according to data released by Eurostat. The US government files a $400 billion Libor claim. The Federal Deposit Insurance Corporation's $400 billion suit, filed on behalf of 39 banks rescued during the financial crisis, accuses banks including Barclays, Lloyds Banking Group, and Royal Bank of Scotland of keeping Libor rates artificially low, contributing to numerous bank failures during the financial crisis. Bitcoin is back near record highs. The cryptocurrency trades up 0.89% at $4,446 a coin, just below its all-time high. Amazon borrows money more cheaply than a lot of countries. On Tuesday, the e-commerce giant priced its $16 billion bond offering to fund its Whole Foods deal, selling $3.5 billion worth of 10-year notes at a yield of about 3.2%, below China, Mexico, and Russia. Cisco's revenue guidance misses. The company beat on the top and bottom lines but said it expected revenue to decline by 1% to 3% to about $11.8 billion for the first quarter of 2018, missing the Wall Street estimate of $12.6 billion. Stock markets around the world are lower. Australia's ASX (+0.57%) lagged overnight, and Britain's FTSE (+0.30%) trails in Europe. The S&P 500 is on track to open lower by 0.13% near 2,465. Earnings reports flow. Alibaba and Walmart report ahead of the opening bell, while Gap and Ross Stores announce their quarterly results after markets close. US economic data is heavy. Initial claims and the Philly Fed will be released at 8:30 a.m. ET before industrial production and capacity utilization cross the wires at 9:15 a.m. ET. The US 10-year yield is up 1 basis point at 2.23%. | 
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