NEW YORK — U.S. stocks edged higher as Wall Street makes few big moves in advance of the Federal Reserve’s next meeting on interest rates. The S&P 500 closed virtually unchanged Monday. The Dow inched up 6 points, and the Nasdaq composite was also little changed. Stocks have been see-sawing since early August on uncertainty about whether the Fed is finally done with its drastic hikes to interest rates. Traders almost universally expect it to keep rates steady this week.
One of the first the market will fixate on is how high officials at the Fed see its main interest rate rising this year. Traders are betting on a roughly 40% chance the Fed will raise rates again in either November or December, according to data from CME Group. A barrel of U.S. crude rose 71 cents to $91.48 Monday. That’s up from less than $70 in July. Brent crude, the international standard, rose 0.5% to $94.43 per barrel.
The two-year Treasury yield, which more closely follows expectations for the Fed, dipped to 5.03% from 5.04% late Friday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks mixed as Wall Street braces for Fed meeting: Stock market news todayWall Street fixed its focus on an upcoming Federal Reserve meeting where the central bank will issue its next interest rate decision: stock market news today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street drifts and oil prices climb ahead of Fed meetingNEW YORK (AP) — Wall Street is drifting in the early going, while oil prices keep climbing and raising pressure on inflation. The S&P 500 was little changed in the first few minutes of trading Monday, coming off its second straight losing week.
Source: SooToday - 🏆 8. / 85 Read more »
Futures dither after Wall St rout; Fed rate verdict in focusA slump in chipmakers on concerns of weak demand and bruised mega-cap growth stocks due to rising Treasury yields pushed the S&P 500, Nasdaq and Dow tumbling between 0.8% and 1.5% on Friday, their worst single-day fall since Aug. 24. Traders almost unanimously expect the Fed to keep rates unchanged at 5.25% to 5.5% at its meeting on Wednesday, while the odds for another pause in November is at 69%, according to the CME FedWatch Tool. 'Further rate hikes would risk sending the economy into a hard landing scenario,' said Thomas Simons, U.S. economist at Jefferies.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Wall St subdued as chipmakers, growth stocks drag; Fed rate meet in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »