US open: Stocks mixed ahead of tomorrow's Fed meeting

As of 1500 BST, the Dow Jones Industrial Average was down 0.14% at 33,014.14, while the S&P 500 was 0.12% firmer at 4,160.19 and the Nasdaq Composite came out the gate 0.06% stronger at 12,543.15.

The Dow opened 47.36 points lower on Tuesday, taking a bite out of gains recorded in the previous session as major indices kicked off May on a positive note.

Trading began with early losses on Tuesday, with investors looking ahead to the Federal Reserve's meeting later in the week. The central bank is widely expected to raise interest rates by 50 basis points following the Wednesday meeting but many investors already see expectations of an aggressive tightening of monetary from the Fed as already being priced into markets.

Also in focus, the yield on the benchmark 10-year Treasury note eased off slightly to 2.920% at the start of trading on Tuesday after hitting 3.01% on Monday, its highest reading since December 2018.

In the corporate space, Hilton Worldwide said system-wide comparable revenue per available room had shot up 80.5% year-on-year but remained 17% weaker than 2019 levels, on a currency-neutral basis, while Estee Lauder shares were in the red after missing on revenue estimates and downgrading full-year forecasts.

Molson Coors reiterated its full-year 2022 growth outlook for sales and underlying income after sales beat consensus estimates and Pfizer beat Q1 estimates as Covid-19 vaccines and antivirals boosted revenues throughout the period.

Still to come, AMD, Airbnb, Starbucks and Denny's will all update after the close.

On the macro front, US factory orders increased 2.2% month-on-month in March, according to the Census Bureau.

Dow Jones - Risers

Travelers Company Inc. (TRV) $171.64 0.91%
JP Morgan Chase & Co. (JPM) $121.51 0.88%
Goldman Sachs Group Inc. (GS) $313.13 0.87%
Dow Chemical Co. (DOW) $67.43 0.55%
3M Co. (MMM) $146.71 0.55%
Verizon Communications Inc. (VZ) $46.47 0.53%
Unitedhealth Group Inc. (UNH) $503.52 0.47%
Chevron Corp. (CVX) $160.47 0.45%
American Express Co. (AXP) $172.05 0.25%
Walgreens Boots Alliance, Inc. (WBA) $42.62 0.24%

Dow Jones - Fallers

Nike Inc. (NKE) $122.63 -2.74%
Home Depot Inc. (HD) $303.30 -1.19%
Intel Corp. (INTC) $44.51 -1.00%
Microsoft Corp. (MSFT) $282.21 -0.79%
Apple Inc. (AAPL) $156.90 -0.67%
McDonald's Corp. (MCD) $245.43 -0.49%
Merck & Co. Inc. (MRK) $87.42 -0.27%
Procter & Gamble Co. (PG) $157.98 -0.25%
Cisco Systems Inc. (CSCO) $49.76 -0.20%
Johnson & Johnson (JNJ) $178.41 -0.13%

S&P 500 - Risers

Western Digital Corp. (WDC) $59.46 10.27%
Ipg Photonics Corp. (IPGP) $106.16 7.07%
Waters Corp. (WAT) $323.45 6.97%
Devon Energy Corp. (DVN) $61.34 5.13%
Henry Schein Inc. (HSIC) $83.74 4.08%
Coterra Energy Inc. (CTRA) $30.02 3.80%
Martin Marietta Mtrl (MLM) $367.31 3.36%
Clorox Co. (CLX) $148.01 3.30%
Fidelity National Information Services Inc. (FIS) $100.66 3.24%
Centene Corp. (CNC) $81.55 3.15%

S&P 500 - Fallers

Rockwell Automation Inc. (ROK) $215.05 -13.99%
Expedia Group Inc. (EXPE) $158.81 -9.15%
Estee Lauder Co. Inc. (EL) $242.38 -7.00%
Flowserve Corp. (FLS) $30.66 -6.72%
FMC Corp. (FMC) $125.01 -5.14%
Booking Holdings Inc. (BKNG) $2,104.54 -4.03%
Coty Inc. Class A (COTY) $7.72 -3.68%
Tyson Foods Inc. (TSN) $89.50 -3.66%
Hilton Inc (HLT) $150.85 -2.93%
Nike Inc. (NKE) $122.63 -2.74%

Nasdaq 100 - Risers

Western Digital Corp. (WDC) $59.46 10.27%
Henry Schein Inc. (HSIC) $83.74 4.08%
Vodafone Group Plc ADS (VOD) $15.57 3.39%
Fiserv Inc. (FISV) $99.51 2.45%
DENTSPLY Sirona Inc. (XRAY) $40.44 1.99%
Vertex Pharmaceuticals Inc. (VRTX) $266.49 1.73%
Biogen Inc (BIIB) $210.72 1.64%
PACCAR Inc. (PCAR) $85.12 1.32%
Trip.com Group Limited (TCOM) $23.99 1.31%
Liberty Global plc Series A (LBTYA) $23.13 1.27%

Nasdaq 100 - Fallers

Expedia Group Inc. (EXPE) $158.81 -9.15%
Booking Holdings Inc. (BKNG) $2,104.54 -4.03%
Charter Communications Inc. (CHTR) $423.77 -2.03%
Align Technology Inc. (ALGN) $303.00 -1.90%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $398.22 -1.81%
Intuitive Surgical Inc. (ISRG) $236.53 -1.72%
Autodesk Inc. (ADSK) $189.67 -1.67%
JD.com, Inc. (JD) $62.34 -1.63%
Marriott International - Class A (MAR) $175.34 -1.57%
Netflix Inc. (NFLX) $196.63 -1.42%