U.S. stocks slightly higher midday after heavy sell-off

U.S. stocks fluctuated narrowly in the morning session Wednesday, as investors eyed closely indications on the timing of a rate hike.

At noon, the Dow Jones Industrial Average added 54.10 points, or 0.31 percent, to 17,717.04. The S&P 500 was up 3.17 points, or 0.16 percent, to 2,047.33. The Nasdaq Composite Index gained 7.10 points, or 0.15 percent, to 4,866.89.

Wall Street is waiting for the Federal Reserve's two-day- meeting next week, as there was little news driving action in recent sessions.

The central bank is strongly considering whether to drop its promise to be "patient" before raising short-term rates, which would pave the way for a debate about a rate increase at its June meeting, according to The Wall Street Journal.

Meanwhile, investors were still assessing the impacts of the surging U.S. dollar. The greenback continued to soar against the euro in the early trading. The euro decreased nearly 1 percent Wednesday from the previous session, as the European Central Bank' s quantitative easing program gets underway.

U.S. stocks suffered big losses on Tuesday, with both the Dow and the S&P 500 turning negative for the year, pressured by the surging U.S. dollar and persisting concerns about debt talks with Greece. Endite