Fed Rate Hike Expected as Wall Street Holds Steady

Wall Street is holding steady as investors await the Federal Reserve's decision on interest rates. The Fed is expected to announce a hike to combat high inflation, which has been a worldwide problem.

The S&P 500 rose 0.2% on Wednesday, its second gain in eight days, while the Dow Jones Industrial Average was down 42 points and the Nasdaq composite was 0.5% higher.

Oil prices eased slightly, with Brent crude falling to $107.59 from nearly $110 earlier this week due to worries about the war with Iran.

The yield on the 10-year Treasury also decreased to 4.97%, down from 5.00% late Tuesday, as investors anticipate a rate hike to slow the economy and reduce inflation.