Higher open ahead of Fed statement

The markets opened higher with the Dow rising 60 points to 17,690 as investors await the Federal Reserve's policy statement. Nasdaq added a point to 5,090.

On the upside

Solvay will pay a premium of approximately $5.5 billion in cash to purchase Cytec Industries (NYSE: CYT).

Bargain hunters snapped up shares of Republic Airways (Nasdaq: RJET).

The Rubicon Project (NYSE: RUBI) reported a smaller than expected loss for the second quarter as revenue surged and forecast current quarter as well as full year revenue ahead of estimates.

On the downside

Yelp (NYSE: YELP) fell to an unexpected loss for the second quarter, forecast current quarter revenue below analyst expectations and announced the resignation of chairman Max Levchin prompting downgrades.

Twitter (NYSE: TWTR) reported a loss for the second quarter as user growth disappointed and warned that growth would take a significant amount of time.

Tableau Software (NYSE: DATA) widened losses for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 6 points to 2099. Bitcoin slipped $2 to $288.