US stocks mixed before Fed figures

By Ovunc Kutlu

ISTANBUL (AA) - The US had a mixed opening Wednesday on Wall Street before the Federal Reserve's key projection figures are released after the conclusion of its two-day monetary policy meeting.

The Dow Jones was up 164 points, or 0.48%, to 34,682 at 11 a.m. EDT, while the S&P 500 added nine points, or 0.2%, to 4,453.

The Nasdaq was down 15, or 0.11%, to 13.663.

The Fed is widely expected to keep its benchmark interest rate unchanged between the 5.25% - 5.5% range, but investors will be focusing on Chair Jerome Powell's post-meeting news conference to get hints about the central bank's next monetary policy steps for the remainder of the year.

The bank will also release new projections about economic growth, inflation, unemployment, interest rate and inflation.

The VIX volatility index, also known as the fear index, fell 0.78% to 14.00, while the 10-year US Treasury yield declined 1% to 4.325%.

The dollar index was down 0.37% to 104.81, and the euro rose 0.4% to $1.0720 against the greenback.

Precious metals were on the rise, with gold adding 0.7% to $1,945 per ounce and silver increasing 1.5% to $23.55.

Oil prices were up around 0.1%, with global benchmark Brent crude at $94.41 per barrel and US benchmark West Texas Intermediate at $90.67.