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Google-parent Alphabet down on potential DOJ action

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Boeing ( BA ) falls after talks with union halted

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Fed minutes due at 2:00 p.m. ET

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Indexes: Dow up 0.92%, S&P 500 up 0.60%, Nasdaq up 0.45%

(Updated at 12:10 p.m. ET/1610 GMT)

By Lisa Pauline Mattackal and Pranav Kashyap

Oct 9 (Reuters) -

The main stock indexes turned higher in a choppy trading

session on Wednesday as investors awaited the minutes of the

Federal Reserve's latest meeting, while Alphabet shares lost

ground after the U.S. said it was considering breaking up

Google.

Shares of Alphabet fell 1.8%, limiting broader

gains, after the U.S. Department of Justice said it may ask a

judge to force Google to divest parts of its business, including

the Chrome browser and Android operating system, to curtail its

search monopoly.

The Dow Jones Industrial Average rose 387.01 points,

or 0.92%, to 42,467.38, the S&P 500 gained 34.55 points,

or 0.60%, to 5,785.63, and the Nasdaq Composite gained

82.01 points, or 0.45%, to 18,264.91.

The S&P 500 touched a fresh record high, with shares of

Norwegian Cruise Line ( NCLH ) topping the benchmark index with

a 10.2% gain after Citi upgraded its

rating

to "buy". Peer Carnival jumped 7.8%.

Trading has been choppy through the week, with investors

adjusting their rate-cut expectations, seeking new catalysts for

a clearer market direction. Their attention will now turn to

crucial inflation data on Thursday and the upcoming

third-quarter corporate earnings season.

Minutes from the Fed's September meeting, when policymakers

kicked off monetary policy easing with a 50-basis-point rate

cut, are due later in the day.

"The Fed minutes are always interesting, but they may be a

little bit more interesting this time given the last Fed

meeting, though I don't expect any surprises," said Tim

Ghriskey, senior portfolio strategist at Ingalls & Snyder.

"In the very short term, we have the CPI number... then

Friday is the earnings kickoff, so we've had some volatility in

the markets here."

Commentary from a number of Fed officials including Philip

Jefferson and Thomas Barkin are also expected through the day.

Dallas Fed president Lorie Logan said the central bank should

not rush policy easing.

Investors are pricing in an 82% chance of a 25-basis-point

reduction in borrowing costs at the Fed's November meeting, with

some now seeing a slight chance it will keep rates on hold,

according to CME's FedWatch.

Prior to the release of strong employment data last week,

markets were leaning towards an outsized 50-bps cut in November.

Most S&P 500 sub-sectors were higher, although

rate-sensitive Utilities and Real Estate

slipped 0.4% and 0.2%, respectively.

Boeing ( BA ) lost 2.6% after

talks

between the company and its key manufacturing union broke

down.

Shares of Arcadium Lithium ( ARLTF ) soared 30.8% after Rio

Tinto said it would acquire the miner for $6.7 billion.

U.S.-listed shares of Chinese firms dropped as investors

continued to question if China would announce new stimulus

measures. Alibaba Group was down 0.6% and PDD Holdings ( PDD )

lost 1.6%.

Additionally, investors were watching for the potential

impact from Category 5 Hurricane Milton as well as the

escalating conflict in the Middle East.

Advancing issues outnumbered decliners by a 1.82-to-1

ratio on the NYSE, and by a 1.37-to-1 ratio on the Nasdaq.

The S&P 500 posted 44 new 52-week highs and two new

lows, while the Nasdaq Composite recorded 74 new highs and 96

new lows.