Stock Market Today: Indexes Open Mostly Lower on Busy Earnings Day; Oil Rises Further as US Mulls Iran Offer; 2-Day Fed Meeting Kicks Off

The S&P 500 and Nasdaq Composite retreated from their latest all-time highs as oil prices rose and investors digested corporate earnings reports. The Nasdaq was down 0.8% and the S&P 500 was down 0.4% in early trading, while the Dow Jones Industrial Average was up 0.3%. Several big-name companies issued quarterly results, with Coca-Cola shares advancing 5.5% and Spotify, UPS, and General Motors falling. The Federal Reserve's two-day meeting began, with financial markets pricing in near certainty that the central bank's policy committee will keep its key interest rate flat. Oil futures advanced 4.1% to $100.25 a barrel after a report that the US is skeptical of Iran's offer to stop attacking ships in the Strait of Hormuz. The 10-year Treasury yield rose to near 4.37% and gold futures were down 2.3% to $4,585 an ounce.