Microsoft Windows 10 to Launch; Stocks Open Lower Ahead of Fed

Stocks were lower and fixated on the Fed at Wednesday's opening bell. Investors are bracing themselves for the FOMC statement at 2 pm, eastern as the central bank concludes its two-day meeting on interest rates. Despite low rates, mortgage applications fell last week. The Mortgage Bankers Association reported its weekly tally dropped 3.9%. Windows 10 is on its way this summer. Microsoft (MSFT) plans to release the operation system in 190 countries. Kraft Foods (KRFT) is recalling 242,000 cases of its Macaroni & Cheese because some packages could contain small metal pieces.