(Updates with index/price moves and geopolitical news from the first paragraph.)
US equity indexes traded mixed as investors awaited the monetary policy announcements and Microsoft (MSFT) and Alphabet's (GOOG, GOOGL) quarterly earnings, and after a surge in crude oil prices.
The Nasdaq Composite slipped less than 0.1% to 26,463.1, while the S&P 500 edged up 0.2% to 7,739.3 and the Dow Jones Industrial Average climbed 0.3% to 52,541.7 at midday Wednesday.
Healthcare and energy were top gainers. Real estate and consumer discretionary led decliners.
Mag-7 duo Microsoft and Alphabet are expected to report their fiscal Q1 and Q3 financial results, respectively, after the market closes on Wednesday.
The Federal Open Market Committee will announce its October policy decision at 2 pm ET, followed by Chairman Kevin Warsh's press briefing. The CME FedWatch tool pegged the probability of the Fed raising its target rate by 25 basis points at 7.2%, with the remaining likelihood being policy left unchanged ahead of the US midterm elections.
Most US Treasury yields rose. The two-year yield climbed 3.9 basis points to 4.78%, and the 10-year rate jumped 4.3 basis points to 5.04%.
The US has asked several Gulf Arab countries to be prepared for a short, intense military campaign after the midterm elections, people briefed on the conversations told The Wall Street Journal. President Donald Trump said "anything is possible" when reporters asked about a possible attack on Iran after the US midterms, Al Jazeera, a Middle Eastern broadcaster, reported.
Iran's Foreign Minister Abbas Araghchi said any Israeli "military misadventure" in the Gulf region could have a "devastating impact" on global energy markets, Al Jazeera reported.
The front-month West Texas Intermediate crude oil contract jumped 3.5% to $103.42 per barrel, and global benchmark Brent climbed 2.7% to $112.39 per barrel.
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