US stocks open mixed before Fed projections

By Ovunc Kutlu

ANKARA (AA) - US stocks opened mixed Wednesday as investors await the Federal Reserve's projections at the conclusion of a two-day meeting.

The Dow Jones was down 15 points to 34,283 at 9.39 a.m. EDT (1339GMT) with JPMorgan falling 0.5%.

The S&P 500 was flat at 4,247 as Tesla fell 0.6%. The Nasdaq added 21 to 14,093 with Zoom Video soaring 1.2%.

After rising for two days, the VIX volatility index was down 1.7% to 16.72. The yield on the 10-year US Treasury note also fell 0.7% to 1,489%. The dollar index was flat at 90.57.

After the Fed’s two-day meeting that will conclude Wednesday at 2 p.m. EDT (1800GMT), the central bank will release key macroeconomic projections for economic growth, inflation and employment.

Although the Fed is not expected to raise its benchmark interest rate, projections will signal whether a rate hike would come before 2023 amid rising inflation.