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U.S. stocks open flat ahead of Fed meeting

Xinhua, April 28, 2015 Adjust font size:

U.S. stocks opened little changed Tuesday, as investors eyed hints on the country's monetary policy from the Federal Reserve.

Traders will be closely watching the conclusion of a two-day meeting of the Federal Open Market Committee, the Fed's policy arm, starting Tuesday for clues on the timing of an interest rate hike.

Some analysts expected that the Fed will not raise interest rates until September at the earliest, because of a wave of disappointing domestic data.

In corporate news, Apple announced financial results for its fiscal 2015 second quarter ended March 28, 2015. The tech giant posted quarterly revenue of 58 billion U.S. dollars and quarterly net profit of 2.33 dollars per diluted share, beating analysts' expectations.

On the economic front, the S&P/Case-Shiller's 20 City Composite gained 5 percent year-over-year in February, compared with a 4.5 percent increase in January.

Shortly after the opening bell, the Dow Jones Industrial Average ticked up 20.75 points, or 0.12 percent, to 18,058.72. The S&P 500 edged down 0.56 points, or 0.03 percent, to 2,108.36. The Nasdaq Composite Index eked out a gain of 2.95 points, or 0.06 percent, to 5, 063.20.

U.S. stocks reversed early gains to end lower Monday, with the Nasdaq Composite Index snapping a five-day winning streak, as investors were awaiting the Fed's meeting. Endi