U.S. stocks open lower as investors assess Big Tech earnings, await Fed’s interest-rate decisions

U.S. stock indexes opened lower on Wednesday morning as investors digested mixed earnings from Microsoft and Alphabet ahead of a Federal Reserve interest-rate decision that could push borrowing costs to their highest in 22 years. The Dow Jones Industrial Average DJIA, +0.04% was off 4 points, leaving it nearly flat at 35,435, while the S&P 500 SPX, -0.09% shed 0.2% and the Nasdaq Composite COMP, -0.22% dropped 0.5%. Later on Wednesday, the U.S.

rose 6.6% after the Google parent topped Wall Street profit and sales estimates on strong advertising sales.

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Big investors sold tech stocks ahead of key earnings reports, Bank of America saysBank of America clients sold a record amount of single stock positions last week.
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