US stocks open mixed before Fed's decision

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened mixed on Wednesday ahead of the Federal Reserve's monetary policy decision.

The Dow Jones was up 87 points, or 0.23%, to 37,903 at 9.40 a.m. EDT (1340GMT).

The S&P 500, on the other hand, was down 10 points, or 0.2%, to 5,026 at the same time. The Nasdaq, meanwhile, decreased 14 points, or 0.1%, to 15,643.

The Fed is widely expected to keep its benchmark interest rate unchanged, but all eyes will be on Chair Jerome Powell’s post-meeting press conference as investors will focus on hints about when the central bank will begin to cut rates this year.

The VIX volatility index, also known as the fear index, rose 2% to 15.96. The 10-year US Treasury yield lost 0.9% to 4.646%.

The dollar index was flat at 106.22, while the euro increased 0.1% to $1.0676 against the greenback.

Precious metals were up, with gold rising 0.7% to $2,302 per ounce and silver adding 0.6% to $26.45 an ounce.

Oil prices lost around 1.3%, as global benchmark Brent crude falling to $85.21 per barrel and US benchmark West Texas Intermediate crude at $80.83 a barrel.