US stocks are trading mixed in early trade on Wednesday as declines from Boeing weighed on Dow, while investors and markets await the US Federal Reserve’s meeting and interest rate decision.

The S&P 500 Index advanced 2.42 points, or 0.19 percent, to trade at 1,293.56 at 9:45 a.m. EDT. The Dow Jones Industrial Average declined 9.76 points, or 0.08 percent, to trade at 11,967.43. The Nasdaq Composite Index gained 0.16 percent.

Boeing Co. (NYSE:BA) shares plunged 3.82 percent as its fourth quarter earnings declined 8 percent to $1.16 billion or $1.56 per share, from $1.27 billion or $1.75 per share in the same period last year. It expects 2011 earnings in the range of $3.80 to $4 per share against analysts’ estimation of $4.54 per share.

Investors are focused on FOMC meeting and interest rate decision, which is due to be released at 2:15 pm EDT. The FOMC will probably maintain its current monetary policy as the world’s largest economy is still on its way to recover from the worst recession since the Second World War.

The interest rate is expected to remain unchanged at 0.25 percent. The Federal Reserve kept interest rates at historic lows in the range between 0 percent and 0.25 percent in an attempt to increase consumer consumption and business operations by making borrowing cheaper to revive the economy.

New home sales data for the month of December will be released at 10:00 a.m. EST. Economists have forecast sales of new single-family houses to be 300,000 for December against 290,000 in the previous month.

Yahoo! Inc. (NASDAQ:YHOO) shares declined 2.50 percent. The company’s net income rose to $312 million or $0.24 per share, from $153 million or $11 per share in the same quarter last year. But revenue fell 4 percent to $1.21 billion and said it will cut 1 percent of its staff.

The euro declined 0.06 percent to 1.3673 against the dollar and the yen gained 0.13 percent against the greenback.

Crude oil futures rose 0.22 percent to $86.38/barrel and gold futures declined 0.15 percent.

European stock markets are currently trading in higher with FTSE 100 up by 61.66 points, DAX30 up by 72.29 points and CAC 40 up by 29.79 points.

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