Investing.com - U.S. stocks opened higher on Wednesday, as investors eyed the conclusion of the Federal Reserve's tow-day policy meeting, while as encouraging Chinese data overshadowed weak data out of the euro zone.
During early U.S. trade, the Dow Jones Industrial Average added 0.14%, the S&P 500 index edged up 0.17%, while the Nasdaq Composite index rose 0.33%.
Sentiment remained under pressure after preliminary data showed that manufacturing activity in the euro zone contracted at a faster-rate-than-expected in October, shrinking for the 14th consecutive month.
Markit said that its preliminary manufacturing purchasing managers’ index fell to a seasonally adjusted 45.3 in October from a final reading of 46.1 in September. Analysts had expected the index to ease up to 46.6 in October.
In the U.S., Markit said that its preliminary manufacturing PMI rose to a seasonally adjusted 51.3 in October from a final reading of 51.1 in September, which was the lowest in three years.
Analysts had expected the index to ease up to 51.6 in October.
Facebook saw shares soar 20.51%, after the social media giant reported on Tuesday that sales rose 32% to USD1.26 billion in the third quarter, compared with the average estimate of USD1.23 billion.
Also in the Internet field, social-game maker Zynga climbed 0.83% after saying it will cut 5% of its workforce, shut offices and end more than a dozen titles to compensate for slowing sales growth.
Shares in Netflix, the world’s largest online video service, plunged 13.44% on the other hand, as domestic streaming growth missed analysts’ projections.
Elsewhere, Boeing jumped 1.48% after it posted earnings that topped expectations and revenue that matched forecasts. In addition, the company lifted its forecast for the full year.
Fellow Dow component AT&T was on the downside however, with shares dropping 0.57% even as the company reported a profit that beat expectations, helped by strong revenue from its wireless operations.
Other stocks in focus included Kimberly-Clark and Bristol-Myers Squibb, due to report earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.51%, France’s CAC 40 advanced 0.50%, Germany's DAX rose 0.30%, while Britain's FTSE 100 edged up 0.09%.
During the Asian trading session, Hong Kong's Hang Seng Index rose 0.31%, while Japan’s Nikkei 225 Index dropped 0.67%.
Later in the day, the Federal Reserve was to announce its benchmark interest rate and release its first monetary policy statement since the central bank announced a third round of quantitative easing in September. The U.S. was to release official data on new home sales.