S&P 500 opens flat near 4,400 as focus shifts to FOMC meeting

• Wall Street's main indexes trade mixed on Wednesday.
• S&P 500 Communication Services Index is up more than 1% after the opening bell.
• Investors await for FOMC to release its Monetary Policy Statement.

Major equity indexes in the US opened on a mixed note on Wednesday as investors refrain from taking large positions while waiting for the FOMC to announce its policy decisions following the July meeting.

As of writing, the S&P 500 was virtually unchanged on the day 4,400, the Nasdaq Composite was up 0.25% at 15,000 and the Dow Jones Industrial Average was losing 0.18% at 35,062.

Among the 11 major S&P 500 sectors, the Communication Services Index is up more than 1% after the opening bell. On the other hand, the Technology Index is losing 0.9%, limiting the tech-heavy Nasdaq's upside.

Federal Reserve Preview: Three reasons why Powell could pause, pummeling the dollar.

Fed Interest Rate Decision Preview: The horns of an inflation dilemma.

S&P 500 chart (daily)