NEW YORK: US stocks opened mixed Wednesday as investors weighed news that Britain was teetering on recession and awaited the Federal Reserve's policy decision and first-ever interest rate forecasts.
The Dow Jones Industrial Average tumbled 64.86 points (0.51 percent) to 12,610.89 in the first five minutes of trade, while the broad-based S&P 500 shed 4.96 points (0.38 percent) to 1,314.63.
The tech-rich Nasdaq Composite jumped 8.79 points (0.32 percent) to 2,795.43, lifted by Apple's report of record breaking earnings after the market closed Tuesday. Apple shares soared more than six percent.
The market awaited the Federal Open Market Committee's interest rate decision and a news conference by Fed chairman Ben Bernanke, as well as economic forecasts that will include rate projections for the first time.
"The impending FOMC announcement, a negative Q4 GDP reading out of the UK (-0.2 percent), lingering uncertainty about the viability of a Greek debt swap, and earnings results that are generally good but not quite as strong as recent quarters are all garnering acclaim as limiting factors this morning," said Patrick O'Hare at Briefing.com.
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