US stock market mixed as Fed meeting looms

By Ovunc Kutlu

ANKARA (AA) - Major US indices opened mixed Tuesday, slightly lower than record highs as investors brace for the Federal Reserve's tapering decision on Wednesday.

The blue-chip Dow Jones rose 94 points, or 0.26%, to 35,913 after it hit an all-time high of 36,009.74 during the previous session.

The S&P 500 added 11, or 0.25%, to 4,624 after improving on its record high to reach 4,626.26 shortly after the first bell.

The Nasdaq increased 37 points, or 0.24%, to 15,633. The tech-heavy index also improved its all-time high to 15,637.68 points.

The yield on 10-year US Treasury notes was down 1.2% to 1.554%, while the VIX volatility index, known as the fear index, fell 2.1% to 16.06.

The US dollar index was up 0.11% to 93.98.

The price of international benchmark Brent crude was trading at $83.94, down 0.9%, while the US benchmark West Texas Intermediate fell 1% to $83.22.

Precious metals are on the decline, with gold losing 0.1% to $1,791 per ounce and silver falling 1.6% to $23.64.

Although the Fed opened the door in September to start tapering -- the process known as reducing its asset purchases -- its timing remains uncertain.

The central bank is expected to begin the process this month or could await until December to view another jobs report and additional inflation data.