(Reuters) – U.S. stocks were little changed in morning trading on Tuesday as investors avoided taking important bets before the two-day Federal Reserve meeting that is expected to roll out a plan to curtail the central bank’s bond holdings. The Dow, however, managed to climb into a new record later open, aided by Chevron’s (CVX.N) 0.9 percent rise. Investors don’t expect the central bank to increase interest rates in the assembly but will closely watch the views of Fed Chair Janet Yellen on inflation, which remains stuck below the Fed’s 2-percent target speed. “If I would be watching anything, it would be mainly with respect to their plans to raise rates in December, which now the market has a 50-50 odds on,” said Randy Frederick, vice president of derivatives and trading such as Charles Schwab in Austin, Texas. However, the biggest determinant of a rate hike in December will be the bond and equity markets react to the reduction of the bond portfolio of the Fed, said Frederick. Any reduction in the balance sheet could make it harder for investors and banks to borrow certain Treasuries in the repurchase agreement market, making it costly and more difficult to bet on or protect against interest rate increases. Investors are also watching U.S. President Donald Trump’s speech at the United Nations General Assembly where he is expected to urge U.N. member countries to increase pressure on North Korea to give up its nuclear weapon ambitions. At 9:38 a.m. ET (1338 GMT), the Dow Jones Industrial Average . DJI was up 21.79 points, or 0.1 percent, at 22,353.14, the S&P 500 . SPX was up 1.13 points, or 0.04 percent, at 2,505 and the Nasdaq Composite . IXIC was up 4.18 points, or 0.06 percent, at 6,458.82. Five of the 11 major S&P sectors were higher, led by 0.33 percent gain in the energy index . SPNY as oil prices edged up to trade close to highs. Best Buy (BBY.N) fell more than 7 percent after the No.1 U.S. electronics retailer provided financial targets for 2021. Tesla (TSLA.O) was down 1.86 percent after Jefferies started coverage of the electric vehicle maker’s inventory with “underperform”. Nike (NKE.N) fell 1.62 percent, pulling the Dow down the most, after a ton of price target cuts by brokerages on concerns regarding intensifying competition from Adidas (ADSGn.DE). Bob Evans Farms (BOBE.O) rose about 6 percent after packaged foods company Post Holdings (POST.N) said it would purchase the frozen meals maker for about $1.5 billion. Advancing issues outnumbered decliners on the NYSE. On the Nasdaq, 1,248 issues rose and 977 fell. Reporting by Sruthi Shankar in Bengaluru; Editing by Arun KoyyurOur Standards:The Thomson Reuters Trust Principles.