Mixed open ahead of Fed statement

The markets opened mixed with the Dow gaining 37 points to 17,042 while Nasdaq lost 15 points to 4,548 as investors awaited a statement from the Federal Reserve.

On the upside

Fiat Chrysler Automotive (NYSE: FCAU) will spin off Ferrari into a separate publicly traded company and will issue a convertible bond for $2.5 billion.

Goodyear Tire & Rubber (Nasdaq: GT) reported lower third quarter earnings but the results were better than expected. 

Newfield Exploration (NYSE: NFX) reported sharply higher third quarter earnings as revenue climbed.

On the downside

American Realty Capital Properties (Nasdaq: ARCP) overstated its adjusted funds from operations in its financial reports from March 31, 2014 and June 30, 2014.

InvenSense (NYSE: INVN) fell to an unexpected loss for the second quarter even as revenue rose.

Xoom (Nasdaq: XOOM) reported sharply lower third quarter earnings even as revenue rose.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 3 points to 1988. Bitcoin lost 12 points to $339.

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