Stocks opened flat on Wednesday as investors shied away from big bets ahead of Federal Reserve statements on the state of the economy.

The Dow Jones industrial average <.DJI> dropped 10.38 points, or 0.11 percent, to 9,231.07. The Standard & Poor's 500 Index <.SPX> shed 0.76 points, or 0.08 percent, to 993.59. The Nasdaq Composite Index <.IXIC> gained 0.94 points, or 0.05 percent, to 1,970.67.

(Reporting by Chuck Mikolajczak; Editing by Padraic Cassidy)