Fed Rate Hike Looms as US Markets Hold Steady
US stock markets are holding steady ahead of a key announcement from the Federal Reserve, which traders expect to raise interest rates to combat high inflation.
The S&P 500 was on track for its second gain in eight days, rising by 0.2%, while the Dow Jones Industrial Average was down 42 points or 0.1% as of 9:35 a.m. Eastern time.
The Nasdaq composite was 0.5% higher, bucking the trend of the other two major indices.