Forex
Wall Street Holds Steady Ahead of Fed's Rate Decision
The Federal Reserve's interest rate decision is on everyone's mind today as stocks hold steady ahead of the announcement.
The S&P 500 rose 0.4% and was on track for its second gain in eight days, while the Dow Jones Industrial Average dipped 34 points or 0.1%, and the Nasdaq composite gained 0.8% by mid-morning.
The price of Brent crude oil fell 2.5% to $106.07 after reaching nearly $110 earlier this week due to concerns over the war with Iran, while the yield on the 10-year Treasury dropped to 4.95% from 5.00% late Tuesday.
Despite some easing in oil prices and pressure from the bond market, worries about inflation remaining high have traders predicting a rate hike by the Fed to combat it.