U.S. Stock ETFs in Reserved Action Ahead of Fed Meeting

While U.S. equities and stock exchange traded funds inched higher Tuesday on corporate results, investors remained cautious in their outlook ahead of the two-day Federal Reserve meeting.

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), were relatively unchanged Tuesday.

U.S. stocks were modestly higher, aided by an Apple (NasdaqGS: AAPL) rise in technology stocks. Apple shares hit a record high for the second straight day.

Major equity indices mostly climbed over the past few weeks on strong first quarter corporate results. Over two thirds of S&P 500 companies having reported earnings and are on track to post their best quarterly result since late 2011, the Wall Street Journal reports.