The S&P 500 and Nasdaq opened at fresh record highs on Tuesday, as investors assessed a slew of earnings reports from major U.S. companies and looked ahead to the Federal Reserve's upcoming two-day policy meeting.The Dow Jones Industrial Average down 3.8 points, or 0.01%, at the open to 44833.74. The S&P 500 rose 15.8 points, or 0.25%, at the open to 6405.62, while the Nasdaq CompositeThe U.S. central bank is set to begin its two-day policy meeting later in the day. While the Fed is expected to leave rates unchanged on Wednesday, traders will closely analyze policymakers' remarks to gauge the timing of future moves.According to the CME FedWatch tool, markets are pricing in about a 63% chance of a rate cut in September.The meeting comes amid the White House's campaign on the central bank to lower borrowing costs, including Trump's persistent criticism of Fed Chair Jerome Powell and occasional suggestions to remove him from his position.. Read more on Markets by NDTV Profit.