Apple's stock adds about 40 points to Dow but broader market sees muted trade ahead of Fed

U.S. stock-index benchmarks traded mostly flat Wednesday at at the open, as investors weighed a blowout quarter at Apple Inc. [a: AAPL] against worries about global trade and an expected policy statement from the Federal Reserve's rate-setting committee at 2 p.m. Eastern Time. The Dow Jones Industrial Average fell 18 points, or less than 0.1%, at 24,077, the S&P 500 index retreated by 5 points, or 0.2%, at 2,650. Meanwhile, the technology-laden Nasdaq Composite Index was buoyed by Apple's quarterly results, trading at break-even levels, with a less than 0.1% decline at 7,124. Apple's 3% share rise comes after the largest U.S. company by market capitalization, and a Dow component, late Tuesday posted better-than-anticipated earningsand revenue for the first quarter late Tuesday. Gains for Apple were contributing about 36 points to the Dow. Looking ahead, even though the Fed meeting isn't expected to offer a change to interest rates, investors will pore over the rate-setting Federal Open Market Committee's statement for the outlook for inflation and its assessment of the health of the economy amid fiscal stimulus and trade tensions. Representatives from President Donald Trump's administration were set to meet with their counterparts from China to discuss easing trade tensions between the two nations. In data, ADP's private-sector employment stood at 204,000 in April, compared with 241,000 previously.