US stocks tread water ahead of more earnings, Fed

Wall Street was flat but holding near record levels just after the open on Monday as investors awaited a fresh set of corporate earnings during week loaded with economic data. Markets were also absorbing an upbeat report on consumer spending for March, which showed a big jump at the end of the first quarter. The data come as the Federal Reserve is due to begin its latest-two day policy meeting on Tuesday but is overwhelmingly expected to leave interest rates untouched.