Apple watch: US stocks drift higher at midday as investors wait for iPhone maker's results

U.S. stocks are barely higher at midday as investors look ahead to Apple's results later today and a meeting by the Federal Reserve on interest rates.

The Dow Jones industrial average rose 32 points, or 0.2 percent, to 18,113 as of 12 p.m. Eastern time Monday. The Standard & Poor's 500 index rose one point, or a fraction of a percent, to 2,118. The Nasdaq composite slipped five points, or 0.1 percent, to 5,086.

Along with Apple, more than 150 companies in the S&P 500 will report their quarterly results this week, including Ford and Exxon Mobil. Investors will also pay close attention to a two-day meeting at the Fed, which starts Tuesday.

U.S. government bond prices fell, pushing up the yield on the 10-year Treasury to 1.93 percent.