Stocks edge higher as investors wrap up strong January ahead of Fed decision and high-profile earnings

• US stocks rose Tuesday as investors prepared to wrap up the first month of trade in 2023.
• The Nasdaq Composite was moving to a 9% increase for January.

Stocks edged higher Tuesday as investors wrap up gains in January with a fresh batch of earnings reports ahead of the Federal Reserve's next decision to raise interest rates.

Wall Street's major equity indexes were set to log advances at the start of 2023 after last year's run into a bear market. The Nasdaq Composite was leading the charge with a potential gain of nearly 9% for the month.

Stocks bulked up before the Federal Reserve issues on Wednesday what's likely to be its eighth consecutive rate hike, but one that downshifts to a pace of 25 basis points.

Among Tuesday's individual movers, General Motors rose on upbeat guidance from the car maker while Pfizer fell after the drug maker cut its 2023 sales outlook. Meanwhile, tech giants Apple, Amazon and Alphabet report later this week.

Here's where US indexes stood at 9:30 a.m. on Tuesday:

• S&P 500: 4,024.98, up 0.18%

• Dow Jones Industrial Average: 33,754.06, up 0.11% (36.97 points)

• Nasdaq Composite: 11,422.08, up 0.25%

Here's what else is happening today:

• Prosecutors allege Sam Bankman-Fried's Robinhood holdings show how the FTX founder tried to cloak his misuse of customers' funds.
• Twitter made its first interest payment on Elon Musk's massive buyout debt, averting bankruptcy for now.
• An investigation found bankrupt crypto lender Celsius wasn't doing business the way it told customers.

In commodities, bonds, and crypto:

• West Texas Intermediate crude fell 0.5% to $77.48 per barrel. Brent crude, the international benchmark, lost 1% at $84.08.
• Gold shed 0.3% to $1,944.40 per ounce.
• The 10-year Treasury yield fell 2 basis points to 3.5%.
• Bitcoin rose 1.2% to $23,100.10.