US open: Stocks trade higher ahead of FOMC meeting

As of 1410 BST, the Dow Jones Industrial Average was up 0.09% at 35,946.56, while the S&P 500 was 0.21% firmer at 4,623.35 and the Nasdaq Composite started out the session 0.13% stronger at 15,615.65.

The Dow opened 32.72 points higher on Tuesday after all three major indices hit fresh intraday highs before closing at records levels in the previous session.

The session's primary focus will likely be the beginning of the Federal Reserve's potentially market-moving two-day Federal Open Market Committee meeting that takes place this week, with the central bank expected to announce that it will soon begin to unwind the $120.0bn monthly bond-buying programme it implemented as a result of the Covid-19 pandemic.

In terms of earnings, Under Armour was in the green after a third-quarter earnings beat prompted the sportswear retailer to hike its full-year guidance, while pharmaceutical giant Pfizer also raised its full-year forecasts, with the group now expecting to see $36.0bn in Covid-19 vaccine sales in 2021.

Ride-hailing outfit Lyft will report earnings after the close on Tuesday.

Also in the corporate space, Tesla shares headed south after the carmaker was said to be recalling 11,700 of its vehicles due to a communications error.

No major data points were slated for publication on Tuesday.

Dow Jones - Risers

Cisco Systems Inc. (CSCO) $57.53 2.55%
Apple Inc. (AAPL) $150.03 0.72%
Microsoft Corp. (MSFT) $331.54 0.66%
Nike Inc. (NKE) $167.17 0.51%
3M Co. (MMM) $180.47 0.50%
Johnson & Johnson (JNJ) $163.81 0.48%
Coca-Cola Co. (KO) $56.40 0.41%
Procter & Gamble Co. (PG) $143.21 0.40%
Intel Corp. (INTC) $49.74 0.39%
McDonald's Corp. (MCD) $251.13 0.22%

Dow Jones - Fallers

Visa Inc. (V) $209.98 -1.17%
Chevron Corp. (CVX) $113.64 -0.78%
Goldman Sachs Group Inc. (GS) $413.87 -0.68%
Verizon Communications Inc. (VZ) $52.67 -0.53%
American Express Co. (AXP) $173.46 -0.43%
Caterpillar Inc. (CAT) $204.55 -0.40%
Boeing Co. (BA) $213.75 -0.39%
Salesforce.Com Inc. (CRM) $301.88 -0.29%
Walt Disney Co. (DIS) $169.77 -0.25%
Walmart Inc. (WMT) $149.55 -0.16%

S&P 500 - Risers

Arista Networks Inc. (ANET) $510.15 24.86%
Under Armour Inc. Class A (UAA) $25.32 15.17%
Under Armour, Inc. (UA) $21.85 14.82%
Gartner Inc. (IT) $361.55 10.09%
Macerich Co (MAC) $20.03 6.09%
Ipg Photonics Corp. (IPGP) $171.98 5.34%
Rockwell Automation Inc. (ROK) $336.80 5.29%
Simon Property Group Inc. (SPG) $156.72 4.93%
McKesson Corp. (MCK) $217.96 4.75%
Juniper Networks Inc. (JNPR) $31.65 4.52%

S&P 500 - Fallers

Incyte Corp. (INCY) $63.21 -8.85%
Mosaic Company (MOS) $38.32 -7.57%
Global Payments Inc. (GPN) $135.69 -6.95%
Leggett & Platt Inc. (LEG) $45.06 -6.31%
Idexx Laboratories Inc. (IDXX) $631.30 -5.28%
Ralph Lauren Corp (RL) $123.83 -4.56%
Fidelity National Information Services Inc. (FIS) $109.24 -4.18%
Waters Corp. (WAT) $350.70 -3.81%
Macy's Inc. (M) $27.55 -3.06%
Fiserv Inc. (FISV) $98.90 -3.03%

Nasdaq 100 - Risers

Cisco Systems Inc. (CSCO) $57.53 2.55%
Intuit Inc. (INTU) $622.91 2.32%
Broadcom Inc. (AVGO) $538.53 1.98%
Check Point Software Technologies Ltd. (CHKP) $118.33 1.70%
Analog Devices Inc. (ADI) $177.92 1.67%
Microchip Technology Inc. (MCHP) $78.12 1.59%
Alphabet Inc. Class C (GOOG) $2,919.50 1.53%
Alphabet Inc. Class A (GOOGL) $2,913.75 1.53%
KLA-Tencor Corp. (KLAC) $385.61 1.41%
Skyworks Solutions Inc. (SWKS) $172.03 1.31%

Nasdaq 100 - Fallers

Incyte Corp. (INCY) $63.21 -8.85%
Idexx Laboratories Inc. (IDXX) $631.30 -5.28%
Baidu Inc. (BIDU) $163.31 -4.12%
Fiserv Inc. (FISV) $98.90 -3.03%
Trip.com Group Limited (TCOM) $28.56 -2.92%
Expedia Group Inc. (EXPE) $163.43 -2.27%
Wynn Resorts Ltd. (WYNN) $91.61 -2.22%
Hologic Inc. (HOLX) $71.25 -1.97%
JD.com, Inc. (JD) $80.91 -1.93%
Vertex Pharmaceuticals Inc. (VRTX) $182.25 -1.70%