Fed Decision Looms as Wall Street Waits on Interest Rates

Wall Street is holding steady as it waits to hear from the Federal Reserve on its interest rate decision. The S&P 500 rose 0.2% ahead of the announcement, while the Dow Jones Industrial Average was down 42 points and the Nasdaq composite was 0.5% higher.

The Fed's decision is expected to impact inflation, with traders betting that it will announce a hike to interest rates later in the day. This move would make borrowing money more expensive, slowing the overall economy and helping to remove fuel for prices to rise further.

Oil prices have also eased, with Brent crude falling 1.1% to $107.59. The price drop helped send the yield on the 10-year Treasury down to 4.97%, from 5.00% late Tuesday.