Tue, 03 Aug 2021

NEW YORK, June 16 (Xinhua) -- U.S. stocks were roughly flat on Wednesday morning as investors awaited a key announcement from the Federal Reserve.

Shortly after the opening bell, the Dow Jones Industrial Average lost 14.84 points, or 0.04 percent, to 34,284.49. The S&P 500 rose 0.60 points, or 0.01 percent, to 4,247.19. The Nasdaq Composite Index increased 20.66 points, or 0.15 percent, to 14,093.51.

Of the 11 primary S&P 500 sectors, financials dropped 0.7 percent in morning trading, leading the laggards. Health care rose 0.6 percent, the best-performing group.

The Fed became a spotlight on Wall Street as the U.S. central bank will announce its latest policy decision on Wednesday afternoon, followed by a highly anticipated news conference with Fed Chair Jerome Powell.

Investors will sift through the Fed's policy statement and economic projections, looking for hints about its next moves, experts noted.

"We expect the Fed will find a middle ground today. They will acknowledge rapid growth, they will note faster inflation and we expect they will announce a discussion of tapering at their next meeting," Chris Low, chief economist at FHN Financial, said in a note on Wednesday.

On Tuesday, U.S. stocks closed lower, amid weakness in the real estate group.

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