NEW YORK, July 29 (Xinhua) -- U.S. stocks eked out small gains at Wednesday's opening, as Wall Street awaited a key policy announcement from the Federal Reserve.

Shortly after the opening bell, the Dow Jones Industrial Average rose 40.25 points, or 0.15 percent, to 26,419.53. The S&P 500 was up 13.15 points, or 0.41 percent, to 3,231.59. The Nasdaq Composite Index climbed 74.53 points, or 0.72 percent, to 10,476.62.

Of the 11 primary S&P 500 sectors, consumer discretionary and technology both advanced more than 0.8 percent in morning trading, outpacing the rest. Consumer staples and energy, however, struggled.

The Fed will conclude its two-day policy meeting on Wednesday. Investors cautiously awaited the U.S. central bank's latest economic assessment and its interest rate decision. Chairman Jerome Powell will hold a news conference at 2:30 p.m. local time (1830 GMT).

"We expect a somber tone from Chair Powell at today's FOMC (Federal Open Market Committee) press conference, as the Fed's primary risk to the economy -- COVID resurgence -- plays out in real time," Chris Low, chief economist at FHN Financial, said in a note.

Meanwhile, chief executives from a number of U.S. tech giants are set to testify before the U.S. Congress at an antitrust hearing later on Wednesday, which has also drawn Wall Street's attention.

U.S. equities closed lower on Tuesday, with the Dow down more than 200 points as major tech shares lagged, weighing on the market. Enditem

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