U.S. stocks opened little changed on Wednesday after an upward revision of U.S. gross domestic product growth as investors awaited news from the Fed to shed further light on the state of the economy. The Commerce Department released revised numbers showing the U.S. economy grew at a 3.8 percent annual rate in the first quarter, ahead of its previous estimate of a 3.5 percent rise. The Dow Jones industrial average dropped 9.13 points, or 0.09 percent, to 10,396.50. The Standard & Poor's 500 Index dropped 0.20 points, or 0.02 percent, to 1,201.37. The technology-laced Nasdaq Composite Index dropped 0.66 points, or 0.03 percent, to 2,069.23. Crude dropped 55 cents to $57.65 a barrel, ahead of a weekly U.S. oil inventory report due at 10:30 a.m. (1430 GMT). Oil's retreat is an encouraging sign for stocks after crude's surge to a record $60.54 a barrel on Monday drove the market lower on concerns that higher energy costs would crimp corporate profits. The policy-setting Federal Open Market Committee's two-day meeting opens Wednesday. The Fed is expected to raise its benchmark funds rate by a quarter-percentage point to 3.25 percent, according to a Reuters poll. --More 1758 Local Time 1458 GMT
