Stocks Opened Flat ahead of Fed Decision

U.S. stocks opened flat on Wednesday as caution set in ahead of the Federal Reserve’s decision on monetary policy. The Dow Jones Industrial Average lately fell 49.89 points, or 0.21%, to 24,049.16. The S&P 500 was down 6.91 points, or 0.26%, to 2,647.89. The Nasdaq Composite gained 4.54 points, or 0.06%, to 7,135.24.

Oil prices were mixed Wednesday, as investors mainly refocused on the risk of the U.S. pulling out of the Iran nuclear agreement. June West Texas Intermediate crude oil rose 16 cents, or 0.2%, to settle at $67.40 a barrel. July Brent fell 16 cents, or 0.2%, to $72.97 a barrel.

Private-sector employment remained strong in April, as employers added 204,000 jobs, Automatic Data Processing Inc. reported Wednesday. That gain was above forecasts from economists polled by Econoday, who had expected on average an increase of 190,000.

Mastercard Inc. (MA) reported first-quarter profit and revenue that rose above expectations. Net income grew to $1.49 billion, or $1.41 a share, from $1.08 billion, or $1.00 a share, in the same period a year ago. Revenue increased to $3.58 billion from $2.73 billion.