US blue chips edged up on Wednesday as the Federal Reserve's meeting on interest rates next week kept investors cautious, but a 20 percent drop in shares of Chinese Web search engine Baidu.com Inc weighed on the Nasdaq Composite index.
Baidu.com fell after Goldman Sachs Group Inc and Piper Jaffray Cos., the underwriters of its August initial public offering, said the stock was overvalued.
The Dow Jones industrial average was up 8.04 points, or 0.08 percent, at 10,605.48, and the Standard & Poor's 500 was up 1.58 points, or 0.13 percent, at 1,232.78. The technology-laced Nasdaq Composite Index was down 3.99 points, or 0.18 percent, at 2,167.76.
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