Stock market today: US stocks in holding pattern in wait for Fed decision

US stocks were little changed on Wednesday as investors braced for the Federal Reserve's long-awaited policy decision, with the market still divided on the size of the expected rate cut. The tech-heavy Nasdaq Composite rose about 0.2%. The S&P 500 was just above the flat line, while the Dow Jones Industrial Average slipped 0.2%.

Read more: Fed predictions for 2024: What experts say about the possibility of a rate cut In recent days, traders have stepped up bets on a bigger cut even after Fed officials earlier in September flagged they were more likely to trim the benchmark rate by 25 basis points. As of Wednesday morning, fed funds futures were pricing in a better than 60% chance the Fed goes large, up from just 15% odds a week ago.

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