Wall Street Stays Steady Ahead of Fed Rate Decision

Wall Street remained steady on Wednesday as investors awaited the Federal Reserve's decision to raise interest rates, a move expected to combat high inflation.

The S&P 500 rose 0.4%, its second gain in eight days, while the Dow Jones Industrial Average fell 26 points, or 0.1%, and the Nasdaq composite increased by 0.7% as of 12:31 p.m. Eastern time.

The easing of oil prices and bond yields contributed to the market's stability, with Brent crude dropping 3.1% to $105.39 per barrel and the 10-year Treasury yield decreasing to 4.96% from 5.00% late Tuesday.

Despite the slight reprieve, concerns about inflation persist, with Wall Street anticipating a rate hike to help slow the economy and reduce prices.