US equities stage a minor recovery at open

Following prior session's sharp sell-off, major US equity indices struggled for a firm direction during early hour of NY trading session and seesawed between tepid gains / minor losses as uncertainty surrounding the Fed's next monetary policy move continues to spook investors. 

At the time of writing, the Dow Jones Industrial Average rose 20 points to 18,090 while the S&P 500 index climbed 2 points to 2,130. Meanwhile, tech heavy Nasdaq composite outperformed the broader indices and gained 18 points to 5,175.

On Tuesday, a slump in crude oil prices weighed heavily on energy stocks and triggered a broad based sell-off across all three major stock-indices. Focus would remain on the official EIA report on weekly inventory data, which is expected to show a buildup in US crude stockpiles. 

Meanwhile, the key focus area remains on the closely watched FOMC meeting on September 20-21, with the CME group's FedWatch tool pointing to a 15% probability of a Fed rate-hike action. 

On the economic data front, the markets had a muted reaction to the release of import price index that showed prices dropped 0.2% in August.