Wall Street Holds Steady Ahead of Fed Interest Rate Announcement

Wall Street is holding steady ahead of the Federal Reserve's interest rate announcement. The S&P 500 rose 0.4% on Wednesday, while the Dow Jones Industrial Average was down 34 points, or 0.1%, and the Nasdaq composite was 0.8% higher.

The price for a barrel of Brent crude oil fell 2.5% to $106.07, helping send the yield on the 10-year Treasury down to 4.95% from 5.00%. The pressure remains high, with Brent oil still well above its $72 price before the war with Iran, and the 10-year yield at just 3.97%.

Traders expect the Fed to announce a hike in interest rates to combat inflation, which is a worldwide problem. The European Central Bank hiked rates last week to help diminish it.