NEW YORK - U.S. stocks were mixed in early trading Wednesday as investors waited to hear from the Federal Reserve later in the afternoon.
The Dow Jones industrial average rose
31 points, or 0.2 percent, to 16,161 as of 9:55 a.m. ET. The Standard
& Poor's 500 index rose less than a point to 1,841 and the Nasdaq composite
fell 13 points, or 0.3 percent, to 4,260.
The agenda during Wednesday's trading
session is light. Investors will get the minutes from the Federal Reserve's
January policy meeting at 2 p.m. ET. At the January meeting, the Fed
voted to pull back further on its bond-buying program, which has pushed down
long-term interest rates and helped push the stock market higher. It was also
the last meeting led by former Fed Chairman Ben Bernanke.
Netflix fell $6.54, or 1.5 percent, to
$429.90. The company is reportedly in a dispute with Verizon Communications and
other telecom companies over the cost of carrying Netflix's programming through
their networks. Netflix is one of the biggest users of Internet bandwidth in
the U.S., and it usage continues to grow as more high-definition video becomes
available. Verizon and other Internet service providers want Netflix to pay
more to use their network, according to The Wall Street Journal and other news
Private equity giant the Carlyle Group rose $1.56, or 4 percent, to $37.02 after the company reported earnings that easily beat analysts' estimates. The company also increased its quarterly dividend.